Mullen Automotive (NASDAQ:MULN) Stock Price Down 11.2%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 11.2% during trading on Tuesday . The company traded as low as $0.15 and last traded at $0.15. Approximately 19,773,037 shares were traded during mid-day trading, an increase of 64% from the average daily volume of 12,079,220 shares. The stock had previously closed at $0.17.

Mullen Automotive Trading Down 17.5 %

The stock’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $3.26.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 filing with the Securities and Exchange Commission (SEC). 11.71% of the stock is 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.