Mullen Automotive (NASDAQ:MULN) Shares Down 7% – What’s Next?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) fell 7% on Friday . The stock traded as low as $3.04 and last traded at $3.21. 1,951,333 shares were traded during mid-day trading, an increase of 120% from the average session volume of 885,768 shares. The stock had previously closed at $3.45.

Mullen Automotive Stock Down 21.7 %

The company has a 50 day simple moving average of $4.97 and a two-hundred day simple moving average of $166.21.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly earnings results on Monday, August 12th. The company reported ($791.00) earnings per share for the quarter. The business 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 bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission. 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.