Mullen Automotive (NASDAQ:MULN) Trading Down 6.2% – Should You Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 6.2% on Monday . The stock traded as low as $0.25 and last traded at $0.27. Approximately 5,161,171 shares changed hands during trading, a decline of 68% from the average daily volume of 15,960,103 shares. The stock had previously closed at $0.29.

Mullen Automotive Stock Down 3.7 %

The stock’s fifty day simple moving average is $1.11 and its two-hundred day simple moving average is $17.19.

Hedge Funds Weigh In On Mullen Automotive

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 third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 SEC. Institutional investors and hedge funds 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.