Mullen Automotive (NASDAQ:MULN) Stock Price Up 7.4% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 7.4% on Thursday . The stock traded as high as $2.65 and last traded at $2.61. Approximately 708,421 shares traded hands during mid-day trading, an increase of 59% from the average daily volume of 444,471 shares. The stock had previously closed at $2.43.

Mullen Automotive Stock Up 11.9 %

The stock has a 50 day moving average of $12.84 and a 200 day moving average of $202.12.

Mullen Automotive (NASDAQ:MULN) last posted its earnings results on Monday, August 12th. The company reported ($791.00) earnings per share (EPS) for the quarter. The business had revenue of $0.07 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive at the end of the most recent reporting period. Hedge funds and other 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.