Mullen Automotive (NASDAQ:MULN) Trading Down 22.2% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 22.2% on Thursday . The stock traded as low as $5.43 and last traded at $5.57. 605,220 shares traded hands during trading, an increase of 96% from the average session volume of 308,862 shares. The stock had previously closed at $7.15.

Mullen Automotive Stock Performance

The stock’s 50 day simple moving average is $39.48 and its 200-day simple moving average is $526.70.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share (EPS) for the quarter. The company had revenue of $2.92 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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 SEC filing. 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.