Mullen Automotive (NASDAQ:MULN) Shares Down 10.4% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 10.4% during trading on Tuesday . The stock traded as low as $0.43 and last traded at $0.43. Approximately 1,955,214 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 11,068,966 shares. The stock had previously closed at $0.48.

Mullen Automotive Price Performance

The firm’s 50-day moving average price is $1.68 and its two-hundred day moving average price is $32.55.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% 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.

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.