Mullen Automotive (NASDAQ:MULN) Stock Price Down 7.2% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) fell 7.2% on Thursday . The stock traded as low as $0.25 and last traded at $0.27. 8,356,006 shares traded hands during trading, a decline of 36% from the average session volume of 13,005,544 shares. The stock had previously closed at $0.29.

Mullen Automotive Stock Up 8.6 %

The business has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $21.56.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 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.