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

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

Mullen Automotive Trading Up 1.3 %

The stock’s 50-day moving average price is $3.83 and its 200-day moving average price is $149.46.

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) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 filing with the Securities and Exchange Commission. 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.