Mullen Automotive (NASDAQ:MULN) Trading 7% Higher – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price was up 7% during trading on Monday . The stock traded as high as $2.33 and last traded at $2.28. Approximately 502,872 shares traded hands during trading, an increase of 44% from the average daily volume of 349,512 shares. The stock had previously closed at $2.13.

Mullen Automotive Trading Up 0.4 %

The stock’s fifty day moving average is $1.91 and its 200-day moving average is $2.80.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings results on Monday, August 12th. The company reported ($791.00) earnings per share (EPS) for the quarter. The firm had revenue of $0.07 million 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 stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 quarter. 11.71% of the stock is currently owned by institutional investors and hedge funds.

About Mullen Automotive

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.