Mullen Automotive (NASDAQ:MULN) Shares Down 2.8% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 2.8% during mid-day trading on Tuesday . The company traded as low as $1.01 and last traded at $1.04. Approximately 850,747 shares were traded during trading, a decline of 17% from the average daily volume of 1,030,735 shares. The stock had previously closed at $1.07.

Mullen Automotive Stock Performance

The business’s 50 day simple moving average is $2.26 and its 200 day simple moving average is $69.07.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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. 11.71% of the stock is currently owned by institutional investors.

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.