Mullen Automotive (NASDAQ:MULN) Trading Down 10.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) traded down 10.6% during mid-day trading on Friday . The company traded as low as $1.55 and last traded at $1.56. 1,191,199 shares changed hands during trading, an increase of 23% from the average session volume of 967,930 shares. The stock had previously closed at $1.74.

Mullen Automotive Price Performance

The company has a 50-day moving average of $2.39 and a 200-day moving average of $87.22.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent reporting period. Institutional investors own 11.71% of the company’s stock.

Mullen Automotive Company Profile

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.