Mullen Automotive (NASDAQ:MULN) Shares Down 4.7% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 4.7% during trading on Friday . The stock traded as low as $2.97 and last traded at $3.05. Approximately 686,646 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 924,015 shares. The stock had previously closed at $3.20.

Mullen Automotive Stock Down 4.7 %

The stock has a fifty day moving average of $3.83 and a 200-day moving average of $149.46.

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) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive at the end of the most recent reporting period. 11.71% of the stock is owned by 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.