Mullen Automotive (NASDAQ:MULN) Trading Down 2%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) dropped 2% during trading on Friday . The company traded as low as $2.46 and last traded at $2.49. Approximately 260,484 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 2,826,209 shares. The stock had previously closed at $2.54.

Mullen Automotive Stock Down 5.5 %

The stock’s 50 day moving average price is $3.99 and its 200 day moving average price is $6.44.

Mullen Automotive (NASDAQ:MULN) last issued its earnings results on Tuesday, May 14th. The company reported ($19.39) EPS for the quarter. The firm had revenue of $0.02 million for the quarter.

Insider Buying and Selling

In related news, insider Calin Popa sold 23,223 shares of Mullen Automotive stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $3.10, for a total transaction of $71,991.30. Following the sale, the insider now owns 286,506 shares of the company’s stock, valued at approximately $888,168.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. FNY Investment Advisers LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned approximately 0.07% of Mullen Automotive at the end of the most recent reporting period. 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.