Mullen Automotive (NASDAQ:MULN) Shares Down 9.9% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 9.9% during trading on Thursday . The company traded as low as $1.17 and last traded at $1.19. Approximately 1,530,651 shares changed hands during trading, an increase of 51% from the average daily volume of 1,012,933 shares. The stock had previously closed at $1.32.

Mullen Automotive Trading Down 10.6 %

The company has a fifty day moving average price of $2.34 and a 200 day moving average price of $79.24.

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 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the Securities & Exchange Commission. 11.71% of the stock is currently owned by 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.