Mullen Automotive (NASDAQ:MULN) Shares Down 3.8%

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price dropped 3.8% during mid-day trading on Thursday . The company traded as low as $0.17 and last traded at $0.17. Approximately 44,100,778 shares were traded during mid-day trading, an increase of 238% from the average daily volume of 13,057,476 shares. The stock had previously closed at $0.18.

Mullen Automotive Price Performance

The stock’s fifty day simple moving average is $0.88 and its 200-day simple moving average is $3.17.

Mullen Automotive shares are going to reverse split 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 market closes on Monday, September 16th.

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

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 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent quarter. 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.