Mullen Automotive (NASDAQ:MULN) Shares Down 7%

Mullen Automotive, Inc. (NASDAQ:MULN) fell 7% during mid-day trading on Monday . The stock traded as low as $0.11 and last traded at $0.12. 31,033,484 shares changed hands during mid-day trading, an increase of 122% from the average session volume of 13,974,121 shares. The stock had previously closed at $0.13.

Mullen Automotive Stock Down 23.2 %

The business’s fifty day moving average price is $0.95 and its 200 day moving average price is $3.04.

Mullen Automotive (NASDAQ:MULN) last announced its earnings results on Monday, August 12th. The company reported ($7.91) EPS for the quarter. The firm had revenue of $0.07 million for the quarter.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 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 & Exchange Commission. 11.71% of the stock is currently owned by institutional investors and hedge funds.

About Mullen Automotive

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.