Mullen Automotive (NASDAQ:MULN) Stock Price Down 3.8% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 3.8% during mid-day trading on Friday . The stock traded as low as $0.46 and last traded at $0.46. Approximately 1,454,580 shares changed hands during trading, a decline of 88% from the average daily volume of 11,652,384 shares. The stock had previously closed at $0.48.

Mullen Automotive Price Performance

The business has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $38.73.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent SEC filing. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.