Mullen Automotive (NASDAQ:MULN) Trading Down 3.3% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded down 3.3% during mid-day trading on Thursday . The stock traded as low as $0.36 and last traded at $0.39. 5,450,651 shares changed hands during mid-day trading, an increase of 648% from the average session volume of 729,010 shares. The stock had previously closed at $0.40.

Mullen Automotive Stock Performance

The business has a 50-day moving average price of $11.57 and a 200 day moving average price of $164.15.

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

Insider Buying and Selling

In other news, Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total transaction of $158,795.00. Following the sale, the director now directly owns 9 shares in the company, valued at $8.19. This represents a 99.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mary Winter sold 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total transaction of $124,620.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,216 shares of company stock valued at $302,766. Company insiders own 3.63% of the company’s stock.

Institutional Trading of Mullen Automotive

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

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.