Mullen Automotive (NASDAQ:MULN) Trading Down 14.3% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) traded down 14.3% on Tuesday . The stock traded as low as $9.51 and last traded at $10.13. 238,277 shares traded hands during trading, a decline of 12% from the average session volume of 272,154 shares. The stock had previously closed at $11.82.

Mullen Automotive Trading Down 16.2 %

The company has a fifty day simple moving average of $41.43 and a two-hundred day simple moving average of $530.36.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent 13F filing 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 approximately 0.34% of Mullen Automotive at the end of the most recent reporting period. 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.