Mullen Automotive (NASDAQ:MULN) Shares Up 11.8% – Here’s Why

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

Mullen Automotive Stock Up 2.9 %

The stock’s 50 day moving average is $15.36 and its 200-day moving average is $209.18.

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

Hedge Funds 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 Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 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 reporting period. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.