Mullen Automotive (NASDAQ:MULN) Stock Price Up 19.5%

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was up 19.5% on Wednesday . The stock traded as high as $6.90 and last traded at $6.86. Approximately 4,521,220 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 2,745,784 shares. The stock had previously closed at $5.74.

Mullen Automotive Stock Up 19.0 %

The firm’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $10.90.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($15.32) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently raised its position in Mullen Automotive stock. Bank of New York Mellon Corp lifted its stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) by 1,064.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,844 shares of the company’s stock after acquiring an additional 241,190 shares during the quarter. Bank of New York Mellon Corp owned about 0.14% of Mullen Automotive worth $120,000 at the end of the most recent reporting period. Institutional investors 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.