Mullen Automotive (NASDAQ:MULN) Trading Down 9.9%

Mullen Automotive, Inc. (NASDAQ:MULN) was down 9.9% on Wednesday . The stock traded as low as $2.85 and last traded at $2.92. Approximately 461,468 shares were traded during trading, a decline of 37% from the average daily volume of 731,001 shares. The stock had previously closed at $3.24.

Mullen Automotive Trading Down 1.4 %

The company has a fifty day simple moving average of $5.73 and a two-hundred day simple moving average of $14.58.

Mullen Automotive (NASDAQ:MULN) last posted its earnings results on Tuesday, February 13th. The company reported ($15.32) earnings per share for the quarter.

Hedge Funds Weigh In On Mullen Automotive

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Mullen Automotive in the first quarter valued at about $46,000. Citigroup Inc. acquired a new stake in shares of Mullen Automotive in the first quarter valued at about $767,000. BlackRock Inc. grew its position in shares of Mullen Automotive by 249.8% in the first quarter. BlackRock Inc. now owns 682,525 shares of the company’s stock valued at $2,035,000 after purchasing an additional 487,424 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Mullen Automotive by 475.9% in the first quarter. Vanguard Group Inc. now owns 1,082,717 shares of the company’s stock valued at $3,227,000 after purchasing an additional 894,716 shares during the last quarter. Finally, XTX Topco Ltd grew its position in shares of Mullen Automotive by 151.5% in the first quarter. XTX Topco Ltd now owns 34,651 shares of the company’s stock valued at $103,000 after purchasing an additional 20,873 shares during the last quarter. 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.