Mullen Automotive (NASDAQ:MULN) Trading Up 48.9% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price shot up 48.9% during trading on Tuesday . The stock traded as high as $0.72 and last traded at $0.38. 266,134,825 shares traded hands during mid-day trading, an increase of 27,852% from the average session volume of 952,107 shares. The stock had previously closed at $0.26.

Mullen Automotive Trading Up 5.9 %

The business’s 50-day moving average price is $10.97 and its 200 day moving average price is $139.18.

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

Insider Buying and Selling

In other news, Director Mary Winter sold 62,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total transaction of $124,620.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total transaction of $158,795.00. Following the completion of the sale, the director now directly owns 9 shares of the company’s stock, valued at $8.19. This trade represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,216 shares of company stock worth $302,766. Insiders own 3.63% of the company’s stock.

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 Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 quarter. 11.71% of the stock is 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.