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

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 19.6% during trading on Thursday . The stock traded as low as $0.65 and last traded at $0.67. 11,038,900 shares traded hands during mid-day 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 Stock Performance

The firm has a 50 day simple moving average of $1.89 and a 200-day simple moving average of $47.85.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 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.