Mullen Automotive (NASDAQ:MULN) Shares Down 7.4% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was down 7.4% during trading on Wednesday . The company traded as low as $2.58 and last traded at $2.76. Approximately 7,621,468 shares traded hands during trading, an increase of 817% from the average daily volume of 831,434 shares. The stock had previously closed at $2.98.

Mullen Automotive Stock Performance

The business has a 50 day moving average of $4.97 and a 200 day moving average of $166.21.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($791.00) EPS for the quarter. The company 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 stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is owned by institutional investors.

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.