Mullen Automotive (NASDAQ:MULN) Shares Up 13.3% – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price rose 13.3% on Tuesday . The company traded as high as $1.46 and last traded at $1.25. Approximately 26,206,906 shares changed hands during mid-day trading, an increase of 2,044% from the average daily volume of 1,222,070 shares. The stock had previously closed at $1.10.

Mullen Automotive Price Performance

The business’s 50-day simple moving average is $2.05 and its two-hundred day simple moving average is $57.00.

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 Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by hedge funds and other 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.