Mullen Automotive (NASDAQ:MULN) Shares Down 3.1% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) shares were down 3.1% during trading on Friday . The stock traded as low as $2.10 and last traded at $2.17. Approximately 414,179 shares changed hands during trading, an increase of 20% from the average daily volume of 345,204 shares. The stock had previously closed at $2.24.

Mullen Automotive Stock Performance

The firm has a 50-day simple moving average of $1.82 and a 200 day simple moving average of $2.87.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Monday, August 12th. The company reported ($7.91) EPS for the quarter. The business had revenue of $0.07 million during the quarter.

Institutional Inflows and Outflows

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 Form 13F filing with the Securities & Exchange Commission. The fund bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive at the end of the most recent quarter. Hedge funds and other 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.