Mullen Automotive (NASDAQ:MULN) Trading Down 10.8%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded down 10.8% on Wednesday . The stock traded as low as $5.40 and last traded at $5.61. 2,473,109 shares were traded during mid-day trading, an increase of 4% from the average session volume of 2,372,948 shares. The stock had previously closed at $6.29.

Mullen Automotive Stock Down 10.0 %

The stock’s 50 day moving average price is $4.95 and its two-hundred day moving average price is $11.73.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($15.32) EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. FNY Investment Advisers LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned about 0.07% of Mullen Automotive at the end of the most recent reporting period. 11.71% of the stock is currently 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.