Mullen Automotive (NASDAQ:MULN) Shares Down 8.1% – Here’s Why

by · The Markets Daily

Shares of Mullen Automotive, Inc. (NASDAQ:MULN – Get Free Report) were down 8.1% during trading on Wednesday . The stock traded as low as $2.66 and last traded at $2.71. Approximately 737,960 shares were traded during mid-day trading, an increase of 69% from the average daily volume of 436,193 shares. The stock had previously closed at $2.95.

Mullen Automotive Stock Performance

The business’s 50-day moving average is $13.54 and its 200 day moving average is $203.53.

Mullen Automotive (NASDAQ:MULN – Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported ($791.00) earnings per share (EPS) for the quarter. The company had revenue of $0.07 million during the quarter.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission. 11.71% of the stock is currently owned by hedge funds and other institutional investors.

About Mullen Automotive

(Get Free Report)

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.

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