Mullen Automotive (NASDAQ:MULN) Shares Down 7.4% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price fell 7.4% during trading on Wednesday . The stock traded as low as $2.58 and last traded at $2.76. 7,621,468 shares traded hands during trading, an increase of 817% from the average session volume of 831,434 shares. The stock had previously closed at $2.98.

Mullen Automotive Trading Up 5.5 %

The company has a 50-day moving average of $4.97 and a 200 day moving average of $166.21.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($791.00) earnings per share (EPS) for the quarter. The business had revenue of $0.07 million during the quarter.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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. Hedge funds and other 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.