Mullen Automotive, Inc. (NASDAQ:MULN) CEO Sells $165,000.00 in Stock

Mullen Automotive, Inc. (NASDAQ:MULN – Get Rating) CEO David Michery sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $1.10, for a total transaction of $165,000.00. Following the completion of the sale, the chief executive officer now directly owns 7,761,066 shares of the company’s stock, valued at $8,537,172.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

David Michery also recently made the following trade(s):

  • On Monday, May 23rd, David Michery sold 750,000 shares of Mullen Automotive stock. The stock was sold at an average price of $1.01, for a total transaction of $757,500.00.
  • On Monday, March 28th, David Michery sold 300,000 shares of Mullen Automotive stock. The stock was sold at an average price of $2.48, for a total transaction of $744,000.00.

Shares of NASDAQ MULN traded up $0.07 during mid-day trading on Friday, reaching $1.32. The company had a trading volume of 57,036,754 shares, compared to its average volume of 93,334,578. The company has a market capitalization of $438.82 million, a price-to-earnings ratio of -2.00 and a beta of 2.76. The stock has a fifty day moving average of $1.33 and a two-hundred day moving average of $2.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.94 and a current ratio of 1.94. Mullen Automotive, Inc. has a 12-month low of $0.52 and a 12-month high of $15.90.

A number of institutional investors and hedge funds have recently modified their holdings of MULN. Vanguard Group Inc. raised its position in Mullen Automotive by 475.9% during the first quarter. Vanguard Group Inc. now owns 1,082,717 shares of the company’s stock valued at $3,227,000 after acquiring an additional 894,716 shares in the last quarter. BlackRock Inc. raised its position in Mullen Automotive by 249.8% during the first quarter. BlackRock Inc. now owns 682,525 shares of the company’s stock valued at $2,035,000 after acquiring an additional 487,424 shares in the last quarter. Citigroup Inc. bought a new position in Mullen Automotive during the first quarter valued at approximately $767,000. Jackson Wealth Management LLC bought a new position in Mullen Automotive during the first quarter valued at approximately $579,000. Finally, Goldman Sachs Group Inc. bought a new position in Mullen Automotive during the first quarter valued at approximately $393,000. 62.46% of the stock is currently owned by hedge funds and other institutional investors.

About Mullen Automotive (Get Rating)

Mullen Automotive, Inc, an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions.

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