Mullen Automotive, Inc. (NASDAQ:MULN) Major Shareholder Financial Lp Hrt Purchases 546,706 Shares

Mullen Automotive, Inc. (NASDAQ:MULN) major shareholder Financial Lp Hrt acquired 546,706 shares of Mullen Automotive stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $0.08 per share, for a total transaction of $43,736.48. Following the purchase, the insider now owns 665,392 shares in the company, valued at approximately $53,231.36. The trade was a 460.63 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mullen Automotive Stock Down 9.3 %

Shares of NASDAQ MULN traded down $0.01 during midday trading on Tuesday, reaching $0.05. 90,128,154 shares of the stock traded hands, compared to its average volume of 7,077,877. The company’s 50 day moving average is $5.75 and its 200 day moving average is $81.96. Mullen Automotive, Inc. has a one year low of $0.05 and a one year high of $47,100.00.

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

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 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 filing with the Securities and Exchange Commission. 11.71% of the stock is owned by hedge funds and other 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.