Mullen Automotive Target of Unusually Large Options Trading (NASDAQ:MULN)

Mullen Automotive, Inc. (NASDAQ:MULN) was the target of some unusual options trading on Monday. Investors bought 9,708 put options on the stock. This is an increase of approximately 490% compared to the average volume of 1,646 put options.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Mullen Automotive Stock Down 10.4 %

NASDAQ:MULN opened at $0.12 on Tuesday. Mullen Automotive has a 12 month low of $0.11 and a 12 month high of $75.00. The company has a 50 day simple moving average of $0.83 and a two-hundred day simple moving average of $3.07.

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 company had revenue of $0.07 million for the quarter.

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.