Mullen Automotive (NASDAQ:MULN) Stock Price Down 11.7% – Should You Sell?

by · The Markets Daily

Mullen Automotive, Inc. (NASDAQ:MULN – Get Free Report)’s stock price dropped 11.7% on Thursday . The company traded as low as $0.17 and last traded at $0.18. Approximately 34,471,059 shares traded hands during mid-day trading, an increase of 1,034% from the average daily volume of 3,040,244 shares. The stock had previously closed at $0.20.

Mullen Automotive Price Performance

The company’s 50 day moving average is $8.73 and its 200-day moving average is $122.29.

Mullen Automotive (NASDAQ:MULN – Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($661.33) earnings per share 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 during the quarter.

Insider Buying and Selling at Mullen Automotive

In related news, Director John Kevin Andersen sold 174,500 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total transaction of $158,795.00. Following the sale, the director now directly owns 9 shares of the company’s stock, valued at approximately $8.19. This represents a 99.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary Winter sold 62,000 shares of Mullen Automotive stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total transaction of $124,620.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,216 shares of company stock worth $302,766. 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 bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Mullen Automotive Company Profile

(Get Free Report)

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.

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