Mullen Automotive (NASDAQ:MULN) Shares Down 11.4% – Should You Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 11.4% during mid-day trading on Friday . The stock traded as low as $4.58 and last traded at $4.55. Approximately 449,430 shares traded hands during trading, an increase of 33% from the average daily volume of 336,780 shares. The stock had previously closed at $5.14.

Mullen Automotive Price Performance

The firm has a 50 day moving average of $37.50 and a two-hundred day moving average of $523.08.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share for the quarter. Mullen Automotive had a negative net margin of 12,717.94% and a negative return on equity of 795.64%. The company had revenue of $2.92 million for the quarter.

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 position in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive at the end of the most recent quarter. Hedge funds and other 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.