Mullen Automotive (NASDAQ:MULN) Trading Down 1% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) dropped 1% on Tuesday . The company traded as low as $2.80 and last traded at $3.12. Approximately 5,591,011 shares were traded during mid-day trading, an increase of 2,083% from the average daily volume of 256,106 shares. The stock had previously closed at $3.15.

Mullen Automotive Stock Down 9.8 %

The stock has a 50 day simple moving average of $1.67 and a two-hundred day simple moving average of $2.95.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($7.91) earnings per share for the quarter. The company had revenue of $0.07 million during the quarter.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors and hedge funds.

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.