Mullen Automotive (NASDAQ:MULN) Shares Down 10.5%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was down 10.5% on Monday . The company traded as low as $0.75 and last traded at $0.79. Approximately 2,087,100 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 2,949,759 shares. The stock had previously closed at $0.88.

Mullen Automotive Stock Down 12.9 %

The business’s 50 day moving average is $2.42 and its two-hundred day moving average is $4.56.

Mullen Automotive (NASDAQ:MULN) last announced its earnings results on Tuesday, May 14th. The company reported ($19.39) earnings per share (EPS) for the quarter. The company had revenue of $0.02 million for the quarter.

Insiders Place Their Bets

In other news, insider Calin Popa sold 23,223 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $3.10, for a total transaction of $71,991.30. Following the completion of the sale, the insider now directly owns 286,506 shares in the company, valued at $888,168.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive as of its most recent SEC filing. Institutional investors and hedge funds own 11.71% 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.