Mullen Automotive (NASDAQ:MULN) Stock Price Down 24.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 24.6% during trading on Thursday . The stock traded as low as $3.03 and last traded at $3.05. Approximately 2,196,882 shares traded hands during trading, a decline of 26% from the average daily volume of 2,953,710 shares. The stock had previously closed at $4.04.

Mullen Automotive Stock Performance

The company has a 50-day moving average of $29.74 and a 200 day moving average of $372.46.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) EPS for the quarter. The firm had revenue of $2.92 million for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%.

Insiders Place Their Bets

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total transaction of $158,795.00. Following the transaction, the director now owns 9 shares of the company’s stock, valued at approximately $8.19. The trade was a 99.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 179,216 shares of company stock valued at $178,146. Insiders own 3.63% of the company’s stock.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors.

Mullen Automotive Company Profile

Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.