Mullen Automotive (NASDAQ:MULN) Stock Price Down 19.6% – What’s Next?

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

Mullen Automotive Trading Down 19.6 %

The business has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $47.85.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.