Mullen Automotive (NASDAQ:MULN) Shares Up 5.5% – Still a Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was up 5.5% during trading on Tuesday . The stock traded as high as $1.97 and last traded at $1.93. Approximately 363,137 shares were traded during trading, a decline of 25% from the average daily volume of 484,772 shares. The stock had previously closed at $1.83.

Mullen Automotive Stock Performance

The firm has a 50-day moving average price of $7.30 and a 200-day moving average price of $178.02.

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

Hedge Funds Weigh In On Mullen Automotive

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 first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors.

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.