Mullen Automotive (NASDAQ:MULN) Trading Down 9.9%

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) fell 9.9% during mid-day trading on Wednesday . The stock traded as low as $2.85 and last traded at $2.92. 461,468 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 731,001 shares. The stock had previously closed at $3.24.

Mullen Automotive Price Performance

The firm’s fifty day moving average price is $5.73 and its 200-day moving average price is $14.58.

Mullen Automotive (NASDAQ:MULN) last announced 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 and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new position in Mullen Automotive in the 2nd quarter worth $25,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Mullen Automotive by 208.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 191,256 shares of the company’s stock worth $26,000 after buying an additional 129,206 shares during the last quarter. Barclays PLC boosted its stake in shares of Mullen Automotive by 301.2% during the 4th quarter. Barclays PLC now owns 99,533 shares of the company’s stock worth $29,000 after buying an additional 74,722 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Mullen Automotive by 215.6% during the 4th quarter. Citigroup Inc. now owns 103,952 shares of the company’s stock worth $30,000 after buying an additional 71,010 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Mullen Automotive during the 2nd quarter worth about $31,000. 11.71% of the stock is 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.