Mullen Automotive (NASDAQ:MULN) Trading Up 3.9%

Mullen Automotive, Inc. (NASDAQ:MULN) traded up 3.9% on Friday . The stock traded as high as $0.18 and last traded at $0.17. 11,696,437 shares traded hands during trading, a decline of 12% from the average session volume of 13,279,870 shares. The stock had previously closed at $0.17.

Mullen Automotive Stock Down 20.8 %

The stock has a 50 day simple moving average of $0.83 and a 200-day simple moving average of $3.09.

Shares of Mullen Automotive 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 announced its quarterly earnings results on Monday, August 12th. The company reported ($7.91) earnings per share for the quarter. The company had revenue of $0.07 million for the quarter.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive at the end of the most recent reporting period. Hedge funds and other 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.