Mullen Automotive (NASDAQ:MULN) Trading Down 1.8% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price fell 1.8% during mid-day trading on Wednesday . The stock traded as low as $2.11 and last traded at $2.21. 312,824 shares were traded during mid-day trading, a decline of 67% from the average session volume of 938,382 shares. The stock had previously closed at $2.25.

Mullen Automotive Stock Down 0.9 %

The firm has a fifty day moving average of $2.52 and a 200-day moving average of $107.60.

Institutional Investors Weigh In On Mullen Automotive

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