Mullen Automotive (NASDAQ:MULN) Trading 5.3% Higher – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded up 5.3% during trading on Thursday . The stock traded as high as $2.44 and last traded at $2.37. 690,489 shares were traded during trading, an increase of 102% from the average session volume of 341,120 shares. The stock had previously closed at $2.25.

Mullen Automotive Price Performance

The firm’s 50-day simple moving average is $1.80 and its two-hundred day simple moving average is $2.88.

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

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 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 quarter. Institutional investors and hedge funds 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.