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

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

Mullen Automotive Stock Performance

The company has a 50-day simple moving average of $13.68 and a 200-day simple moving average of $175.53.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share (EPS) for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The business had revenue of $2.92 million for the quarter.

Insider Transactions at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the stock in a transaction on 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 owns 9 shares of the company’s stock, valued at $8.19. This represents a 99.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mary Winter sold 62,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total value of $124,620.00. The disclosure for this sale can be found here. Insiders have sold 241,216 shares of company stock valued at $302,766 in the last quarter. 3.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor 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.

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.