Mullen Automotive (NASDAQ:MULN) Shares Down 1.1% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded down 1.1% on Friday . The stock traded as low as $1.71 and last traded at $1.74. 257,391 shares were traded during mid-day trading, a decline of 48% from the average session volume of 497,883 shares. The stock had previously closed at $1.76.

Mullen Automotive Price Performance

The stock has a 50-day moving average of $6.86 and a 200-day moving average of $176.80.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings results on Monday, August 12th. The company reported ($791.00) earnings per share for the quarter. The business had revenue of $0.07 million during the quarter.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently 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.