Mullen Automotive (NASDAQ:MULN) Stock Price Down 14.8%

Mullen Automotive, Inc. (NASDAQ:MULN) dropped 14.8% on Wednesday . The stock traded as low as $8.69 and last traded at $8.90. Approximately 471,782 shares changed hands during mid-day trading, an increase of 215% from the average daily volume of 149,826 shares. The stock had previously closed at $10.45.

Mullen Automotive Trading Down 19.6 %

The stock has a 50 day moving average price of $0.95 and a two-hundred day moving average price of $3.04.

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

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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. Institutional investors own 11.71% of the company’s stock.

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.