Mullen Automotive (NASDAQ:MULN) Trading Down 7% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) was down 7% during trading on Friday . The company traded as low as $3.04 and last traded at $3.21. Approximately 1,951,333 shares were traded during trading, an increase of 120% from the average daily volume of 885,768 shares. The stock had previously closed at $3.45.

Mullen Automotive Trading Down 21.7 %

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

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

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive at the end of the most recent quarter. Institutional investors and hedge funds 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.