Mullen Automotive (NASDAQ:MULN) Trading Down 12.5% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) fell 12.5% during trading on Friday . The company traded as low as $1.05 and last traded at $1.12. 4,407,995 shares traded hands during mid-day trading, an increase of 2,561% from the average session volume of 165,622 shares. The stock had previously closed at $1.28.

Mullen Automotive Trading Down 12.5 %

The company’s fifty day simple moving average is $260.60 and its two-hundred day simple moving average is $6,650.04.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($66,133.00) earnings per share (EPS) for the quarter. The company 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 Activity

In other Mullen Automotive news, major shareholder Financial Lp Hrt bought 5,467 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $43,736.00. Following the completion of the purchase, the insider now owns 6,653 shares of the company’s stock, valued at $53,224. This trade represents a 460.96 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Winter sold 620 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $201.00, for a total value of $124,620.00. The disclosure for this sale can be found here. Insiders sold a total of 667 shares of company stock valued at $143,911 over the last 90 days. 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 stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 currently 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.