Mullen Automotive (NASDAQ:MULN) Trading Down 6.2%

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 6.2% during mid-day trading on Wednesday . The stock traded as low as $2.36 and last traded at $2.44. Approximately 749,407 shares traded hands during trading, a decline of 74% from the average daily volume of 2,854,458 shares. The stock had previously closed at $2.60.

Mullen Automotive Stock Performance

The firm has a 50-day moving average of $4.01 and a two-hundred day moving average of $6.61.

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

Insider Buying and Selling

In other Mullen Automotive news, insider Calin Popa sold 23,223 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $3.10, for a total value of $71,991.30. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. FNY Investment Advisers LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the fourth quarter, according to its most recent 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 about 0.07% of Mullen Automotive as of its most recent filing with the SEC. 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.