Mullen Automotive (NASDAQ:MULN) Shares Up 4.9% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was up 4.9% during mid-day trading on Monday . The company traded as high as $0.22 and last traded at $0.21. Approximately 6,773,215 shares were traded during mid-day trading, an increase of 788% from the average daily volume of 762,636 shares. The stock had previously closed at $0.20.

Mullen Automotive Stock Performance

The company’s 50-day moving average is $27.79 and its two-hundred day moving average is $4,834.86.

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

Insiders Place Their Bets

In other Mullen Automotive news, Director Mary Winter sold 620 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $201.00, for a total value of $124,620.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Financial Lp Hrt acquired 5,467 shares of Mullen Automotive stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $8.00 per share, for a total transaction of $43,736.00. Following the transaction, the insider now owns 6,653 shares of the company’s stock, valued at $53,224. This represents a 460.96% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 667 shares of company stock valued at $143,911. Insiders own 3.63% 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.