Mullen Automotive, Inc. (NASDAQ:MULN - Get Free Report) shares dropped 24.6% during mid-day trading on Wednesday . The company traded as low as $7.40 and last traded at $7.46. Approximately 419,291 shares were traded during trading, an increase of 48% from the average daily volume of 284,211 shares. The stock had previously closed at $9.90.
Mullen Automotive Trading Down 20.4 %
The business has a 50-day moving average price of $35.68 and a 200-day moving average price of $460.56.
Mullen Automotive (NASDAQ:MULN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) EPS for the quarter. The company had revenue of $2.92 million during 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
In related news, Director John Kevin Andersen sold 174,500 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total value of $158,795.00. Following the completion of the sale, the director now owns 9 shares in the company, valued at approximately $8.19. This represents a 99.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.60% of the stock is currently owned by insiders.
Institutional Investors 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 - Free Report) in the 3rd quarter, according to its most recent 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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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