Mullen Automotive (NASDAQ:MULN) Stock Price Down 4%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded down 4% during trading on Thursday . The stock traded as low as $6.34 and last traded at $6.56. 5,425,804 shares changed hands during trading, an increase of 81% from the average session volume of 2,999,666 shares. The stock had previously closed at $6.83.

Mullen Automotive Stock Performance

The company has a 50-day moving average of $4.84 and a 200 day moving average of $10.87.

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

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently raised its stake in Mullen Automotive stock. Bank of New York Mellon Corp lifted its holdings in Mullen Automotive, Inc. (NASDAQ:MULN) by 1,064.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 263,844 shares of the company’s stock after acquiring an additional 241,190 shares during the period. Bank of New York Mellon Corp owned 0.14% of Mullen Automotive worth $120,000 at the end of the most recent 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.