Mullen Automotive (NASDAQ:MULN) Stock Price Up 5.3% – Time to Buy?

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

Mullen Automotive Price Performance

The stock has a 50-day moving average price of $1.85 and a 200 day moving average price of $2.86.

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

Institutional Investors 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 shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors and hedge funds.

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.