Mullen Automotive (NASDAQ:MULN) Stock Price Down 8.4% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price dropped 8.4% during mid-day trading on Monday . The company traded as low as $1.06 and last traded at $1.09. Approximately 1,394,145 shares were traded during trading, an increase of 36% from the average daily volume of 1,023,228 shares. The stock had previously closed at $1.19.

Mullen Automotive Stock Performance

The company’s 50-day moving average price is $2.29 and its 200 day moving average price is $71.30.

Institutional Trading of Mullen Automotive

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

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.