Mullen Automotive (NASDAQ:MULN) Shares Up 5.5% – Time to Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded up 5.5% during mid-day trading on Tuesday . The stock traded as high as $1.97 and last traded at $1.93. 363,137 shares were traded during trading, a decline of 25% from the average session volume of 484,772 shares. The stock had previously closed at $1.83.

Mullen Automotive Price Performance

The stock has a 50-day simple moving average of $7.30 and a 200-day simple moving average of $178.02.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Monday, August 12th. The company reported ($791.00) earnings per share for the quarter. The firm 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 acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive at the end of the most recent reporting period. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.