Mullen Automotive (NASDAQ:MULN) Stock Price Up 29.4% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded up 29.4% on Tuesday . The company traded as high as $2.46 and last traded at $2.21. 6,420,029 shares were traded during mid-day trading, an increase of 1,109% from the average session volume of 531,130 shares. The stock had previously closed at $1.71.

Mullen Automotive Stock Performance

The stock has a 50-day moving average of $5.33 and a 200 day moving average of $167.35.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings data on Monday, August 12th. The company reported ($791.00) earnings per share (EPS) for the quarter. The company 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 Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to 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 quarter. Institutional investors own 11.71% of the company’s stock.

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.