Mullen Automotive (NASDAQ:MULN) Stock Price Up 11.8% – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN) rose 11.8% during trading on Monday . The company traded as high as $3.48 and last traded at $3.04. Approximately 3,403,598 shares traded hands during trading, an increase of 724% from the average daily volume of 413,064 shares. The stock had previously closed at $2.72.

Mullen Automotive Trading Down 17.6 %

The stock’s fifty day moving average is $13.54 and its two-hundred day moving average is $203.53.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent SEC filing. Hedge funds and other 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.