Mullen Automotive (NASDAQ:MULN) Stock Price Down 17.3% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was down 17.3% on Friday . The company traded as low as $0.53 and last traded at $0.55. Approximately 6,788,822 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 10,010,210 shares. The stock had previously closed at $0.67.

Mullen Automotive Price Performance

The company’s 50 day moving average is $1.83 and its two-hundred day moving average is $44.17.

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 Form 13F filing with the Securities and Exchange Commission. The firm acquired 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. 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.