Mullen Automotive (NASDAQ:MULN) Trading Up 6% – Should You Buy?

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

Mullen Automotive Stock Down 12.1 %

The stock has a fifty day moving average of $27.79 and a 200-day moving average of $4,911.28.

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

Insiders Place Their Bets

In other news, major shareholder Financial Lp Hrt acquired 5,467 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost 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 of the company’s stock, valued at $53,224. The trade was a 460.96 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $124,620.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 667 shares of company stock valued at $143,911. 3.63% of the stock is currently owned by insiders.

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.