Mullen Automotive (NASDAQ:MULN) Trading Down 2.1%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price dropped 2.1% during mid-day trading on Monday . The stock traded as low as $2.31 and last traded at $2.35. Approximately 423,646 shares were traded during trading, a decline of 85% from the average daily volume of 2,811,740 shares. The stock had previously closed at $2.40.

Mullen Automotive Stock Performance

The stock has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $6.23.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($19.39) earnings per share (EPS) for the quarter. The company had revenue of $0.02 million for the quarter.

Insider Activity

In related news, insider Calin Popa sold 23,223 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $3.10, for a total transaction of $71,991.30. Following the completion of the sale, the insider now directly owns 286,506 shares of the company’s stock, valued at approximately $888,168.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. FNY Investment Advisers LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned about 0.07% of Mullen Automotive as of its most recent filing with the SEC. Institutional investors own 11.71% of the company’s stock.

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.