Mullen Automotive (NASDAQ:MULN) Stock Price Down 9.2% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price fell 9.2% during mid-day trading on Tuesday . The company traded as low as $0.42 and last traded at $0.46. 3,800,085 shares were traded during mid-day trading, a decline of 71% from the average session volume of 13,279,410 shares. The stock had previously closed at $0.51.

Mullen Automotive Stock Down 9.8 %

The company has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $40.95.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 its most recent disclosure with the SEC. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent reporting period. 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.