Mullen Automotive (NASDAQ:MULN) Stock Price Down 9.9%

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded down 9.9% during mid-day trading on Wednesday . The stock traded as low as $2.85 and last traded at $2.92. 461,468 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 731,001 shares. The stock had previously closed at $3.24.

Mullen Automotive Stock Performance

The stock’s 50-day simple moving average is $5.89 and its 200 day simple moving average is $14.74.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($15.32) EPS for the quarter.

Hedge Funds Weigh In On Mullen Automotive

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of Mullen Automotive during the fourth quarter worth $38,000. Vanguard Group Inc. increased its stake in shares of Mullen Automotive by 280.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,952,151 shares of the company’s stock valued at $5,426,000 after acquiring an additional 8,810,769 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Mullen Automotive by 368.5% during the 3rd quarter. Northern Trust Corp now owns 931,016 shares of the company’s stock worth $423,000 after acquiring an additional 732,298 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in Mullen Automotive during the third quarter worth approximately $1,229,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Mullen Automotive by 1,064.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 263,844 shares of the company’s stock valued at $120,000 after purchasing an additional 241,190 shares during the last quarter. 11.71% of the stock is owned by institutional investors and hedge funds.

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.