Mullen Automotive (NASDAQ:MULN) Trading Down 2.9%

Mullen Automotive, Inc. (NASDAQ:MULN) fell 2.9% during mid-day trading on Thursday . The stock traded as low as $7.15 and last traded at $7.80. 573,472 shares were traded during mid-day trading, an increase of 267% from the average session volume of 156,340 shares. The stock had previously closed at $8.03.

Mullen Automotive Price Performance

The firm’s 50 day moving average price is $1.07 and its 200-day moving average price is $3.08.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive at the end of the most recent reporting period. Institutional investors 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.