Mullen Automotive (NASDAQ:MULN) Stock Price Down 7.2% – Time to Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) fell 7.2% during trading on Thursday . The stock traded as low as $0.25 and last traded at $0.27. 8,356,006 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 13,005,544 shares. The stock had previously closed at $0.29.

Mullen Automotive Stock Down 9.3 %

The company’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $23.09.

Institutional Investors Weigh In On 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) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 reporting period. 11.71% of the stock is owned by institutional investors and hedge funds.

About Mullen Automotive

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.