Mullen Automotive (NASDAQ:MULN) Stock Price Down 11%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 11% on Monday . The company traded as low as $3.17 and last traded at $3.24. 798,770 shares changed hands during mid-day trading, an increase of 264% from the average session volume of 219,505 shares. The stock had previously closed at $3.64.

Mullen Automotive Trading Down 14.6 %

The firm’s 50 day moving average is $1.64 and its two-hundred day moving average is $2.96.

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

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased 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 purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently owned by hedge funds and other 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.