Mullen Automotive (NASDAQ:MULN) Shares Down 1.2% – Should You Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 1.2% during trading on Thursday . The company traded as low as $1.74 and last traded at $1.83. 727,779 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,882,628 shares. The stock had previously closed at $1.85.

Mullen Automotive Trading Down 15.5 %

The company has a fifty day simple moving average of $24.64 and a two-hundred day simple moving average of $293.07.

Mullen Automotive (NASDAQ:MULN) last issued 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 company had revenue of $2.92 million for the quarter.

Insider Activity at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the business’s 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 $8.19. The trade was a 99.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 179,216 shares of company stock valued at $178,146. 3.63% of the stock is owned by corporate insiders.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently owned by hedge funds and other 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.