Mullen Automotive (NASDAQ:MULN) Shares Down 1.6% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares were down 1.6% during mid-day trading on Thursday . The company traded as low as $0.25 and last traded at $0.26. Approximately 1,543,298 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 14,964,237 shares. The stock had previously closed at $0.26.

Mullen Automotive Stock Performance

The company’s 50 day simple moving average is $1.02 and its 200 day simple moving average is $16.96.

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) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.