Mullen Automotive (NASDAQ:MULN) Stock Price Down 24.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) was down 24.6% on Thursday . The company traded as low as $3.03 and last traded at $3.05. Approximately 2,196,882 shares changed hands during trading, a decline of 26% from the average daily volume of 2,953,710 shares. The stock had previously closed at $4.04.

Mullen Automotive Stock Performance

The business has a 50 day moving average of $29.74 and a two-hundred day moving average of $372.46.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results 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 during the quarter.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, 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 value of $158,795.00. Following the completion of the sale, the director now directly owns 9 shares in the company, valued at approximately $8.19. This trade represents a 99.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 179,216 shares of company stock worth $178,146. 3.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 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.

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.