Mullen Automotive (NASDAQ:MULN) Stock Price Down 3.7% – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 3.7% during trading on Monday . The company traded as low as $1.77 and last traded at $1.86. Approximately 350,575 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 483,126 shares. The stock had previously closed at $1.93.

Mullen Automotive Price Performance

The firm has a fifty day moving average of $9.06 and a 200-day moving average of $183.12.

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

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 currently 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.