Mullen Automotive (NASDAQ:MULN) Shares Down 3.8%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 3.8% on Thursday . The stock traded as low as $0.17 and last traded at $0.17. Approximately 44,100,778 shares traded hands during trading, an increase of 238% from the average daily volume of 13,057,476 shares. The stock had previously closed at $0.18.

Mullen Automotive Price Performance

The stock’s fifty day moving average is $0.97 and its 200-day moving average is $3.21.

Mullen Automotive (NASDAQ:MULN) last announced 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.

Hedge Funds Weigh In On Mullen Automotive

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) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period. Institutional investors 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.