Mullen Automotive (NASDAQ:MULN) Shares Up 1.7% – Time to Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) rose 1.7% on Wednesday . The stock traded as high as $2.50 and last traded at $2.35. Approximately 715,036 shares traded hands during trading, an increase of 52% from the average daily volume of 471,450 shares. The stock had previously closed at $2.31.

Mullen Automotive Stock Down 7.3 %

The stock’s fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $187.06.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned by institutional investors and hedge funds.

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.