Mullen Automotive (NASDAQ:MULN) Trading Up 4.8%

Mullen Automotive, Inc. (NASDAQ:MULN) shares were up 4.8% during mid-day trading on Thursday . The company traded as high as $0.31 and last traded at $0.29. Approximately 28,462,660 shares were traded during trading, an increase of 184% from the average daily volume of 10,018,690 shares. The stock had previously closed at $0.27.

Mullen Automotive Price Performance

The business’s 50 day moving average is $1.39 and its two-hundred day moving average is $3.73.

Insiders Place Their Bets

In other news, insider Calin Popa sold 23,223 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $3.10, for a total value of $71,991.30. Following the completion of the sale, the insider now owns 286,506 shares of the company’s stock, valued at approximately $888,168.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission. 11.71% of the stock is owned by 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.