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

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded up 8.7% during trading on Tuesday . The company traded as high as $3.17 and last traded at $3.12. 753,315 shares changed 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 Trading Down 9.8 %

The firm’s fifty day simple moving average is $3.17 and its 200 day simple moving average is $132.97.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 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.

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.