Mullen Automotive (NASDAQ:MULN) Stock Price Down 5.3%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded down 5.3% during mid-day trading on Monday . The stock traded as low as $0.55 and last traded at $0.57. 4,820,899 shares were traded during trading, an increase of 40% from the average session volume of 3,450,778 shares. The stock had previously closed at $0.60.

Mullen Automotive Trading Down 15.0 %

The firm’s 50-day moving average price is $1.88 and its 200-day moving average price is $4.20.

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

Insider Activity

In other news, insider Calin Popa sold 23,223 shares of Mullen Automotive stock in a transaction that occurred 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 in the company, valued at $888,168.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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.