Mullen Automotive (NASDAQ:MULN) Shares Up 1.8% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares shot up 1.8% on Thursday . The stock traded as high as $2.65 and last traded at $2.32. 1,990,824 shares traded hands during trading, an increase of 424% from the average session volume of 380,211 shares. The stock had previously closed at $2.28.

Mullen Automotive Trading Up 3.5 %

The firm’s 50 day moving average is $17.90 and its two-hundred day moving average is $217.57.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($791.00) EPS for the quarter. The business had revenue of $0.07 million for the quarter.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is currently owned by hedge funds and other institutional investors.

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.