Mullen Automotive (NASDAQ:MULN) Shares Down 12.2% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded down 12.2% during trading on Monday . The company traded as low as $0.19 and last traded at $0.20. 17,471,913 shares changed hands during trading, an increase of 13% from the average session volume of 15,509,315 shares. The stock had previously closed at $0.22.

Mullen Automotive Price Performance

The firm’s fifty day moving average is $41.43 and its two-hundred day moving average is $530.36.

Mullen Automotive (NASDAQ:MULN) last issued its earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share for the quarter.

Hedge Funds 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 Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 quarter. 11.71% of the stock is currently owned by hedge funds and other institutional investors.

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.