Mullen Automotive (NASDAQ:MULN) Stock Price Up 8.3% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price rose 8.3% on Monday . The company traded as high as $2.90 and last traded at $2.78. Approximately 455,266 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,894,979 shares. The stock had previously closed at $2.57.

Mullen Automotive Stock Performance

The firm’s 50 day moving average price is $28.37 and its 200-day moving average price is $320.97.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share (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 Activity

In related news, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total value of $158,795.00. Following the completion of the sale, the director now owns 9 shares of the company’s stock, valued at approximately $8.19. The trade was a 99.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 179,216 shares of company stock worth $178,146 in the last quarter. Corporate insiders own 3.63% of the company’s stock.

Institutional Trading of 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) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% 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.