Mullen Automotive (NASDAQ:MULN) Trading Down 11.8% After Insider Selling

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 11.8% during trading on Friday following insider selling activity. The company traded as low as $1.38 and last traded at $1.39. 797,382 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 2,860,002 shares. The stock had previously closed at $1.58.

Specifically, Director Mary Winter sold 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total transaction of $124,620.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mullen Automotive Trading Down 3.2 %

The firm has a 50-day simple moving average of $23.40 and a two-hundred day simple moving average of $291.04.

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 company had revenue of $2.92 million for the quarter.

Hedge Funds Weigh In On 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) in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 filing with the SEC. 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.