Insider Selling: Mullen Automotive, Inc. (NASDAQ:MULN) Director Sells 174,500 Shares of Stock

Mullen Automotive, Inc. (NASDAQ:MULN) Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 9 shares in the company, valued at approximately $8.19. This trade represents a 99.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Mullen Automotive Stock Down 20.4 %

MULN traded down $1.05 on Friday, reaching $4.09. The company had a trading volume of 1,474,340 shares, compared to its average volume of 369,495. Mullen Automotive, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $49,080.00. The company’s fifty day moving average is $37.50 and its 200 day moving average is $523.08.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings results 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 795.64%. The company had revenue of $2.92 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 SEC filing. 11.71% of the stock is currently owned by hedge funds and other 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.