Mullen Automotive (NASDAQ:MULN) Stock Price Down 6.8% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was down 6.8% during mid-day trading on Wednesday . The stock traded as low as $0.15 and last traded at $0.15. Approximately 7,434,854 shares changed hands during trading, an increase of 68% from the average daily volume of 4,437,851 shares. The stock had previously closed at $0.16.

Mullen Automotive Stock Performance

The company has a 50-day moving average of $4.38 and a 200-day moving average of $3,852.13.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Tuesday, May 20th. The company reported ($489.23) earnings per share (EPS) for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The company had revenue of $4.95 million for the quarter.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, major shareholder Financial Lp Hrt purchased 5,467 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost of $8.00 per share, for a total transaction of $43,736.00. Following the acquisition, the insider now owns 6,653 shares of the company’s stock, valued at approximately $53,224. The trade was a 460.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Winter sold 620 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $201.00, for a total value of $124,620.00. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by insiders.

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.