Mullen Automotive (NASDAQ:MULN) Trading Down 22.2% – Time to Sell?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 22.2% during trading on Thursday . The stock traded as low as $5.43 and last traded at $5.57. 605,220 shares changed hands during trading, an increase of 96% from the average session volume of 308,862 shares. The stock had previously closed at $7.15.

Mullen Automotive Trading Down 26.9 %

The company’s 50-day moving average is $39.48 and its 200 day moving average is $526.70.

Mullen Automotive (NASDAQ:MULN) last posted its earnings results on Wednesday, February 19th. The company reported ($661.33) EPS for the quarter. The firm had revenue of $2.92 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent filing with the Securities & Exchange Commission. 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.