Mullen Automotive (NASDAQ:MULN) Trading Down 33.2% – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) fell 33.2% during trading on Monday . The company traded as low as $4.80 and last traded at $5.49. 917,265 shares changed hands during mid-day trading, an increase of 1,632% from the average session volume of 52,962 shares. The stock had previously closed at $8.21.

Mullen Automotive Stock Performance

The company’s 50 day moving average price is $210.08 and its two-hundred day moving average price is $327,088.45.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Tuesday, May 20th. The company reported ($48,923.00) EPS for the quarter. The firm had revenue of $4.95 million for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%.

Insider Buying and Selling at Mullen Automotive

In related news, major shareholder Financial Lp Hrt purchased 54 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $800.00 per share, with a total value of $43,200.00. Following the completion of the acquisition, the insider now directly owns 66 shares in the company, valued at $52,800. The trade was a 450.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.63% 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.