Mullen Automotive (NASDAQ:MULN) Shares Down 4.4%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 4.4% during mid-day trading on Wednesday . The company traded as low as $1.28 and last traded at $1.31. Approximately 1,303,012 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 2,771,332 shares. The stock had previously closed at $1.37.

Mullen Automotive Stock Performance

The firm’s 50 day moving average price is $2.82 and its 200 day moving average price is $5.13.

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

Insider Activity at Mullen Automotive

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 value 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 accessible through this hyperlink. 1.30% 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 bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% 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.