Mullen Automotive (NASDAQ:MULN) Shares Down 19.6% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 19.6% during trading on Thursday . The company traded as low as $0.65 and last traded at $0.67. Approximately 11,038,900 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 10,724,889 shares. The stock had previously closed at $0.83.

Mullen Automotive Stock Down 33.1 %

The stock has a 50 day moving average of $1.86 and a 200 day moving average of $47.52.

Institutional Inflows and Outflows

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