Mullen Automotive (NASDAQ:MULN) Stock Price Down 16.3% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 16.3% during mid-day trading on Monday . The company traded as low as $0.39 and last traded at $0.37. 13,396,788 shares traded hands during trading, an increase of 15% from the average session volume of 11,673,810 shares. The stock had previously closed at $0.44.

Mullen Automotive Price Performance

The firm has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $23.25.

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

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.