Mullen Automotive (NASDAQ:MULN) Stock Price Up 6.3% – Still a Buy?

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 6.3% on Wednesday . The stock traded as high as $2.82 and last traded at $2.72. Approximately 787,375 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 909,619 shares. The stock had previously closed at $2.56.

Mullen Automotive Stock Up 4.3 %

The stock has a 50 day moving average of $4.13 and a 200-day moving average of $150.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently 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.