Mullen Automotive (NASDAQ:MULN) Shares Up 8.7% – Should You Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded up 8.7% on Tuesday . The company traded as high as $3.17 and last traded at $3.12. 753,315 shares traded hands during trading, a decline of 19% from the average session volume of 929,031 shares. The stock had previously closed at $2.87.

Mullen Automotive Stock Up 2.3 %

The company has a fifty day simple moving average of $3.02 and a 200 day simple moving average of $128.70.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.