Mullen Automotive (NASDAQ:MULN) Stock Price Up 6.2% – Should You Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) shot up 6.2% during trading on Monday . The company traded as high as $0.36 and last traded at $0.31. 15,644,155 shares changed hands during trading, an increase of 1,665% from the average session volume of 886,588 shares. The stock had previously closed at $0.29.

Mullen Automotive Price Performance

The firm has a 50-day moving average price of $10.42 and a two-hundred day moving average price of $131.20.

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

Insider Activity at Mullen Automotive

In other Mullen Automotive news, Director Mary Winter sold 62,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total value of $124,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total value of $158,795.00. Following the sale, the director now directly owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their position. 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. Company insiders own 3.63% of the company’s stock.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing. 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.