Mullen Automotive (NASDAQ:MULN) Trading Up 11.8% – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 11.8% during mid-day trading on Monday . The stock traded as high as $3.48 and last traded at $3.04. Approximately 3,403,598 shares traded hands during mid-day trading, an increase of 724% from the average daily volume of 413,064 shares. The stock had previously closed at $2.72.

Mullen Automotive Stock Performance

The business’s 50-day simple moving average is $15.36 and its 200 day simple moving average is $209.18.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Monday, August 12th. The company reported ($791.00) EPS for the quarter. The company had revenue of $0.07 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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.