Mullen Automotive (NASDAQ:MULN) Shares Down 13.8%

Mullen Automotive, Inc. (NASDAQ:MULN) traded down 13.8% during trading on Monday . The company traded as low as $5.71 and last traded at $5.76. 597,613 shares traded hands during trading, an increase of 248% from the average session volume of 171,699 shares. The stock had previously closed at $6.68.

Mullen Automotive Trading Down 12.7 %

The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $3.06.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 (SEC). Institutional investors and hedge funds 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.