Mullen Automotive (NASDAQ:MULN) Stock Price Up 5.1% – Still a Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was up 5.1% on Monday . The stock traded as high as $1.04 and last traded at $1.02. Approximately 4,300,855 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 9,128,700 shares. The stock had previously closed at $0.97.

Mullen Automotive Trading Down 19.6 %

The business’s 50 day moving average price is $1.89 and its 200-day moving average price is $47.85.

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 position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is 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.