Mullen Automotive (NASDAQ:MULN) Trading Down 9.8%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded down 9.8% during trading on Monday . The stock traded as low as $3.30 and last traded at $3.40. 408,732 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 733,029 shares. The stock had previously closed at $3.77.

Mullen Automotive Stock Up 0.3 %

The company’s 50 day simple moving average is $5.89 and its 200 day simple moving average is $14.74.

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

Hedge Funds Weigh In On Mullen Automotive

A number of hedge funds have recently modified their holdings of MULN. BlackRock Inc. grew its position in shares of Mullen Automotive by 179.0% during the first quarter. BlackRock Inc. now owns 73,710,135 shares of the company’s stock worth $9,678,000 after acquiring an additional 47,287,301 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Mullen Automotive by 296.2% during the first quarter. Geode Capital Management LLC now owns 25,843,874 shares of the company’s stock worth $3,393,000 after acquiring an additional 19,321,429 shares during the last quarter. State Street Corp grew its position in shares of Mullen Automotive by 297.3% during the first quarter. State Street Corp now owns 20,847,734 shares of the company’s stock worth $2,737,000 after acquiring an additional 15,600,139 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Mullen Automotive by 77.7% during the third quarter. Vanguard Group Inc. now owns 22,602,115 shares of the company’s stock worth $7,409,000 after acquiring an additional 9,882,329 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Mullen Automotive in the 3rd quarter valued at $1,229,000. 11.71% of the stock is currently owned by hedge funds and other 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.