Mullen Automotive (NASDAQ:MULN) Stock Price Up 6% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was up 6% on Friday . The company traded as high as $0.24 and last traded at $0.24. Approximately 4,086,575 shares traded hands during trading, an increase of 495% from the average daily volume of 687,347 shares. The stock had previously closed at $0.23.

Mullen Automotive Stock Down 12.1 %

The firm has a 50 day simple moving average of $27.79 and a two-hundred day simple moving average of $4,911.28.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($66,133.00) earnings per share for the quarter. The firm had revenue of $2.92 million during the quarter. Mullen Automotive had a negative net margin of 12,717.94% and a negative return on equity of 2,736.27%.

Insider Activity

In other Mullen Automotive news, major shareholder Financial Lp Hrt bought 5,467 shares of Mullen Automotive stock in a transaction on Thursday, April 3rd. The stock was bought at an average price of $8.00 per share, with a total value of $43,736.00. Following the completion of the acquisition, the insider now owns 6,653 shares in the company, valued at $53,224. The trade was a 460.96 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Winter sold 620 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $201.00, for a total transaction of $124,620.00. The disclosure for this sale can be found here. Insiders have sold a total of 667 shares of company stock valued at $143,911 over the last quarter. Corporate insiders own 3.63% 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.