Mullen Automotive (NASDAQ:MULN) Shares Down 1.6% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 1.6% on Thursday . The stock traded as low as $0.25 and last traded at $0.26. Approximately 1,543,298 shares were traded during 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 Down 4.7 %

The stock’s fifty day moving average price is $1.06 and its 200-day moving average price is $17.08.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 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 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.