Mullen Automotive (NASDAQ:MULN) Trading Down 4.5%

Mullen Automotive, Inc. (NASDAQ:MULN) shares fell 4.5% on Tuesday . The company traded as low as $11.01 and last traded at $11.31. 481,404 shares traded hands during mid-day trading, an increase of 235% from the average session volume of 143,802 shares. The stock had previously closed at $11.84.

Mullen Automotive Stock Down 12.1 %

The stock’s fifty day simple moving average is $0.79 and its 200-day simple moving average is $3.02.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Monday, August 12th. The company reported ($7.91) earnings per share (EPS) for the quarter. The firm 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 Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to the company in its most recent Form 13F filing 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 about 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors and hedge funds.

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.