Mullen Automotive (NASDAQ:MULN) Trading Down 6.2%

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 6.2% during trading on Wednesday . The company traded as low as $2.36 and last traded at $2.44. Approximately 749,407 shares changed hands during trading, a decline of 74% from the average daily volume of 2,854,458 shares. The stock had previously closed at $2.60.

Mullen Automotive Stock Down 5.8 %

The firm has a fifty day moving average price of $4.01 and a 200-day moving average price of $6.61.

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

Insiders Place Their Bets

In other Mullen Automotive news, insider Calin Popa sold 23,223 shares of Mullen Automotive stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $888,168.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. FNY Investment Advisers LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned about 0.07% of Mullen Automotive as of its most recent SEC filing. 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.