Mullen Automotive (NASDAQ:MULN) Trading Down 6.9%

Shares of Mullen Automotive, Inc. (NASDAQ:MULNGet Free Report) fell 6.9% on Friday . The stock traded as low as $2.84 and last traded at $2.95. 1,675,696 shares traded hands during trading, a decline of 44% from the average session volume of 2,982,487 shares. The stock had previously closed at $3.17.

Mullen Automotive Trading Down 9.9 %

The firm has a 50-day moving average of $4.34 and a two-hundred day moving average of $7.94.

Mullen Automotive (NASDAQ:MULNGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($19.39) earnings per share for the quarter. The company had revenue of $0.02 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in Mullen Automotive during the fourth quarter valued at approximately $38,000. Virtu Financial LLC acquired a new stake in Mullen Automotive in the first quarter valued at approximately $214,000. Finally, Bank of New York Mellon Corp grew its holdings in Mullen Automotive by 1,064.7% in the third quarter. Bank of New York Mellon Corp now owns 263,844 shares of the company’s stock valued at $120,000 after purchasing an additional 241,190 shares during the period. 11.71% of the stock is currently owned by hedge funds and other institutional investors.

About Mullen Automotive

(Get Free Report)

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.

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