Mullen Automotive (NASDAQ:MULN) Shares Down 4.5%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) dropped 4.5% during mid-day trading on Wednesday . The stock traded as low as $2.52 and last traded at $2.55. Approximately 1,461,249 shares changed hands during trading, a decline of 27% from the average daily volume of 2,003,713 shares. The stock had previously closed at $2.67.

Mullen Automotive Stock Performance

The company has a 50 day moving average of $4.06 and a 200-day moving average of $7.05.

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

Insider Buying and Selling

In other Mullen Automotive news, insider Calin Popa sold 23,223 shares of Mullen Automotive stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $3.10, for a total value of $71,991.30. Following the completion of the transaction, the insider now directly owns 286,506 shares in the company, valued at $888,168.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. FNY Investment Advisers LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned about 0.07% of Mullen Automotive as of its most recent SEC filing. Hedge funds and other institutional investors own 11.71% 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.