Mullen Automotive (NASDAQ:MULN) Stock Price Down 10.1%

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded down 10.1% during mid-day trading on Tuesday . The stock traded as low as $0.32 and last traded at $0.33. 66,180,196 shares were traded during trading, an increase of 615% from the average session volume of 9,255,252 shares. The stock had previously closed at $0.36.

Mullen Automotive Price Performance

The company’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $3.80.

Insiders Place Their Bets

In related news, insider Calin Popa sold 23,223 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $3.10, for a total value of $71,991.30. Following the sale, the insider now owns 286,506 shares of the company’s stock, valued at $888,168.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is owned by institutional investors.

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.