Mullen Automotive (NASDAQ:MULN) Shares Down 10.4% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 10.4% during trading on Tuesday . The company traded as low as $0.43 and last traded at $0.43. 1,955,214 shares changed hands during trading, a decline of 82% from the average session volume of 11,068,966 shares. The stock had previously closed at $0.48.

Mullen Automotive Stock Down 10.4 %

The company’s 50 day simple moving average is $1.68 and its two-hundred day simple moving average is $32.55.

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) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the Securities & Exchange Commission. 11.71% of the stock is currently owned by hedge funds and other institutional investors.

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.