Mullen Automotive (NASDAQ:MULN) Trading Down 6.2% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 6.2% during mid-day trading on Tuesday . The stock traded as low as $0.85 and last traded at $0.90. 3,640,841 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 9,164,441 shares. The stock had previously closed at $0.95.

Mullen Automotive Price Performance

The business has a 50 day moving average price of $1.89 and a 200 day moving average price of $47.85.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive at the end of the most recent reporting period. 11.71% of the stock is owned by institutional investors and hedge funds.

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.