Mullen Automotive (NASDAQ:MULN) Trading Down 2.1%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) dropped 2.1% during trading on Monday . The company traded as low as $2.31 and last traded at $2.35. Approximately 423,646 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 2,811,740 shares. The stock had previously closed at $2.40.

Mullen Automotive Stock Down 2.1 %

The stock has a 50 day simple moving average of $3.99 and a 200 day simple moving average of $6.39.

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

Insider Buying and Selling at Mullen Automotive

In other news, insider Calin Popa sold 23,223 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $3.10, for a total transaction of $71,991.30. Following the completion of the transaction, the insider now directly 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 accessible through this link. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 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) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive at the end of the most recent quarter. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.