Mullen Automotive (NASDAQ:MULN) Shares Down 1.1% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 1.1% on Friday . The company traded as low as $1.71 and last traded at $1.74. 257,391 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 497,883 shares. The stock had previously closed at $1.76.

Mullen Automotive Trading Down 6.5 %

The company’s 50-day moving average is $6.86 and its two-hundred day moving average is $176.80.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly earnings results on Monday, August 12th. The company reported ($791.00) EPS for the quarter. The company had revenue of $0.07 million for the quarter.

Hedge Funds 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 shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing. Institutional investors 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.