Mullen Automotive (NASDAQ:MULN) Trading Down 5.5% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 5.5% during trading on Monday . The stock traded as low as $1.81 and last traded at $2.06. Approximately 1,488,730 shares were traded during trading, an increase of 1,296% from the average daily volume of 106,657 shares. The stock had previously closed at $2.18.

Mullen Automotive Price Performance

The business’s 50-day simple moving average is $313.59 and its two-hundred day simple moving average is $6,827.46.

Mullen Automotive (NASDAQ:MULN) last announced its earnings results on Wednesday, February 19th. The company reported ($66,133.00) 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%.

Insider Buying and Selling at Mullen Automotive

In other news, Director Mary Winter sold 620 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $201.00, for a total transaction of $124,620.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Financial Lp Hrt acquired 5,467 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average cost of $8.00 per share, with a total value of $43,736.00. Following the completion of the acquisition, the insider now owns 6,653 shares in the company, valued at $53,224. This trade represents a 460.96 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 667 shares of company stock valued at $143,911 in the last 90 days. 3.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is owned by institutional investors and hedge funds.

About Mullen Automotive

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.