Mullen Automotive (NASDAQ:MULN) Stock Price Down 3.1% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price fell 3.1% during trading on Friday . The stock traded as low as $2.10 and last traded at $2.17. 414,179 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 345,204 shares. The stock had previously closed at $2.24.

Mullen Automotive Stock Down 4.5 %

The stock has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $2.87.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive at the end of the most recent reporting period. Institutional investors and hedge funds 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.