Mullen Automotive (NASDAQ:MULN) Trading 1.1% Higher – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price shot up 1.1% during mid-day trading on Thursday . The stock traded as high as $1.13 and last traded at $1.08. 1,249,085 shares traded hands during trading, an increase of 21% from the average session volume of 1,035,038 shares. The stock had previously closed at $1.07.

Mullen Automotive Trading Down 9.4 %

The company has a 50-day moving average of $2.18 and a 200-day moving average of $66.15.

Hedge Funds Weigh In On Mullen Automotive

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