Mullen Automotive (NASDAQ:MULN) Shares Down 4.6% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 4.6% during mid-day trading on Wednesday . The stock traded as low as $0.37 and last traded at $0.41. 1,835,235 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 10,569,635 shares. The stock had previously closed at $0.43.

Mullen Automotive Price Performance

The stock’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $30.93.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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. Institutional investors own 11.71% of the company’s stock.

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.