Mullen Automotive (NASDAQ:MULN) Shares Down 2.8% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 2.8% during trading on Tuesday . The company traded as low as $5.85 and last traded at $5.81. 963,601 shares were traded during trading, an increase of 278% from the average session volume of 254,841 shares. The stock had previously closed at $5.97.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Mullen Automotive to a “hold” rating in a research report on Friday.

Mullen Automotive Stock Down 7.0%

The business has a fifty day moving average price of $124.81 and a 200 day moving average price of $269,711.70.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Tuesday, May 20th. The company reported ($48,923.00) 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 firm had revenue of $4.95 million during the quarter.

Insider Transactions at Mullen Automotive

In other Mullen Automotive news, major shareholder Financial Lp Hrt purchased 54 shares of the stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of $800.00 per share, for a total transaction of $43,200.00. Following the purchase, the insider now owns 66 shares of the company’s stock, valued at approximately $52,800. This represents a 450.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.