Mullen Automotive (NASDAQ:MULN) Shares Down 4.7% – Time to Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) fell 4.7% during mid-day trading on Wednesday . The company traded as low as $0.10 and last traded at $0.10. 16,008,557 shares changed hands during trading, an increase of 250% from the average session volume of 4,574,630 shares. The stock had previously closed at $0.11.

Mullen Automotive Stock Down 3.4 %

The stock has a fifty day moving average price of $7.65 and a two-hundred day moving average price of $98.02.

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

Insider Transactions at Mullen Automotive

In other Mullen Automotive news, Director Mary Winter sold 62,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total transaction of $124,620.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Kevin Andersen sold 174,500 shares of the 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 sale, the director now directly owns 9 shares in the company, valued at $8.19. This trade represents a 99.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,216 shares of company stock worth $302,766. 3.63% of the stock is owned by company 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 shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). 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.