Mullen Automotive (NASDAQ:MULN) Shares Up 13.8% – Time to Buy?

Mullen Automotive, Inc. (NASDAQ:MULN) shares shot up 13.8% during mid-day trading on Thursday . The stock traded as high as $0.35 and last traded at $0.35. 6,476,192 shares traded hands during trading, a decline of 58% from the average session volume of 15,271,905 shares. The stock had previously closed at $0.30.

Mullen Automotive Trading Down 26.3 %

The firm has a fifty day moving average of $0.84 and a 200-day moving average of $12.63.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased 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 and Exchange Commission (SEC). The fund purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by hedge funds and other institutional investors.

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.