Mullen Automotive (NASDAQ:MULN) Stock Price Up 66.2% – Should You Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) shot up 66.2% during mid-day trading on Wednesday . The stock traded as high as $5.68 and last traded at $3.92. 47,780,190 shares traded hands during mid-day trading, an increase of 3,172% from the average session volume of 1,460,307 shares. The stock had previously closed at $2.36.

Mullen Automotive Trading Up 79.0 %

The stock has a fifty day moving average of $32.62 and a two-hundred day moving average of $377.66.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share (EPS) for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The firm had revenue of $2.92 million for the quarter.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total transaction of $158,795.00. Following the sale, the director now directly owns 9 shares of the company’s stock, valued at approximately $8.19. This represents a 99.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent reporting period. Institutional investors and hedge funds own 11.71% 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.