Mullen Automotive (NASDAQ:MULN) Shares Down 15.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 15.6% during mid-day trading on Friday . The stock traded as low as $0.13 and last traded at $0.14. Approximately 19,394,719 shares were traded during mid-day trading, an increase of 494% from the average daily volume of 3,262,445 shares. The stock had previously closed at $0.16.

Mullen Automotive Trading Down 28.1 %

The stock has a fifty day moving average of $8.73 and a 200 day moving average of $117.23.

Mullen Automotive (NASDAQ:MULN) last announced 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.

Insider Activity

In related news, Director Mary Winter sold 62,000 shares of the stock in a transaction on 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 filing with the SEC, which is available through the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total transaction of $158,795.00. Following the completion of the transaction, the director now directly owns 9 shares of the company’s stock, valued at $8.19. The trade was a 99.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,216 shares of company stock valued at $302,766 in the last quarter. 3.63% of the stock is currently owned by company insiders.

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 shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 reporting period. 11.71% of the stock is owned by institutional investors and hedge funds.

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.