Mullen Automotive (NASDAQ:MULN) Trading Down 4.7%

Mullen Automotive, Inc. (NASDAQ:MULN) dropped 4.7% during mid-day trading on Wednesday . The company traded as low as $2.95 and last traded at $3.07. Approximately 2,982,997 shares were traded during trading, an increase of 949% from the average daily volume of 284,444 shares. The stock had previously closed at $3.22.

Mullen Automotive Trading Down 9.6 %

The firm’s 50-day moving average price is $1.61 and its 200 day moving average price is $2.97.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings results on Monday, August 12th. The company reported ($7.91) 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 acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). 11.71% of the stock is currently owned by institutional investors.

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.