Mullen Automotive (NASDAQ:MULN) Trading Up 6.8% – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was up 6.8% during mid-day trading on Monday . The company traded as high as $3.19 and last traded at $3.13. Approximately 509,041 shares were traded during trading, a decline of 45% from the average daily volume of 926,462 shares. The stock had previously closed at $2.93.

Mullen Automotive Stock Performance

The company’s 50-day moving average price is $3.02 and its 200-day moving average price is $128.70.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is owned by institutional investors and hedge funds.

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.