Mullen Automotive Stock Scheduled to Reverse Split on Tuesday, September 17th (NASDAQ:MULN)

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock is set to reverse split before the market opens on Tuesday, September 17th. The 1-100 reverse split was announced on Friday, September 13th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, September 16th.

Mullen Automotive Trading Down 20.8 %

Mullen Automotive stock traded down $0.03 during mid-day trading on Friday, hitting $0.13. The company’s stock had a trading volume of 119,282,442 shares, compared to its average volume of 13,881,683. Mullen Automotive has a 1 year low of $0.12 and a 1 year high of $75.00. The stock’s fifty day moving average is $0.88 and its two-hundred day moving average is $3.17.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($7.91) earnings per share for the quarter. The company had revenue of $0.07 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive as of its most recent SEC filing. Hedge funds and other 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.