Mullen Automotive (NASDAQ:MULN) Shares Up 48.9% – Still a Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded up 48.9% on Tuesday . The company traded as high as $0.72 and last traded at $0.38. 266,134,825 shares were traded during 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 Stock Performance

The firm’s 50-day simple moving average is $9.88 and its two-hundred day simple moving average is $130.28.

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

Insider Activity at Mullen Automotive

In related news, Director Mary Winter sold 62,000 shares of Mullen Automotive stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total value of $124,620.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Kevin Andersen sold 174,500 shares of the company’s 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 completion of the transaction, the director now directly owns 9 shares of the company’s stock, valued at $8.19. The trade was a 99.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,216 shares of company stock worth $302,766. 3.63% of the stock is owned by corporate insiders.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent filing with the SEC. Institutional investors and hedge funds 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.