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

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 5.5% on Monday . The company traded as low as $0.67 and last traded at $0.71. 1,411,053 shares changed hands during mid-day trading, an increase of 134% from the average session volume of 603,195 shares. The stock had previously closed at $0.75.

Mullen Automotive Price Performance

The business’s 50-day simple moving average is $13.68 and its two-hundred day simple moving average is $175.53.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) earnings per share 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 firm had revenue of $2.92 million during the quarter.

Insider Transactions at Mullen Automotive

In other news, Director Mary Winter sold 62,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total transaction of $124,620.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Kevin Andersen sold 174,500 shares of the 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 transaction, the director now directly owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,216 shares of company stock valued at $302,766. Insiders own 3.63% of the company’s stock.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.