Mullen Automotive (NASDAQ:MULN) Stock Price Down 5.6% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) fell 5.6% on Monday . The stock traded as low as $0.36 and last traded at $0.42. 6,897,283 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 11,627,287 shares. The stock had previously closed at $0.44.

Mullen Automotive Stock Performance

The company’s 50-day moving average price is $1.78 and its 200-day moving average price is $39.27.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent reporting period. 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.