Mullen Automotive (NASDAQ:MULN) Stock Price Down 4.6% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares fell 4.6% during mid-day trading on Tuesday . The stock traded as low as $2.56 and last traded at $2.69. 593,634 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 906,616 shares. The stock had previously closed at $2.82.

Mullen Automotive Price Performance

The company has a 50 day simple moving average of $3.83 and a 200-day simple moving average of $149.46.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 quarter. Institutional investors own 11.71% of the company’s stock.

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.