Mullen Automotive (NASDAQ:MULN) Trading Down 4.7%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) dropped 4.7% 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 Stock Performance

The firm has a 50 day moving average price of $1.61 and a 200-day moving average price of $2.97.

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

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 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 SEC. 11.71% of the stock is currently owned by hedge funds and other institutional investors.

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.