Mullen Automotive (NASDAQ:MULN) Trading Down 7.5%

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 7.5% during trading on Wednesday . The stock traded as low as $0.41 and last traded at $0.41. Approximately 3,855,587 shares traded hands during trading, an increase of 8% from the average daily volume of 3,560,090 shares. The stock had previously closed at $0.44.

Mullen Automotive Stock Down 20.3 %

The stock has a fifty day moving average price of $1.82 and a 200-day moving average price of $4.17.

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

Insider Activity

In related news, insider Calin Popa sold 23,223 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $3.10, for a total value of $71,991.30. Following the completion of the sale, the insider now owns 286,506 shares in the company, valued at $888,168.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to the company in its most recent filing with the 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. Hedge funds and other institutional investors 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.