Mullen Automotive (NASDAQ:MULN) Trading Up 1.7% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price rose 1.7% during trading on Wednesday . The company traded as high as $2.50 and last traded at $2.35. Approximately 715,036 shares traded hands during mid-day trading, an increase of 52% from the average daily volume of 471,450 shares. The stock had previously closed at $2.31.

Mullen Automotive Stock Performance

The firm has a 50-day simple moving average of $9.70 and a 200 day simple moving average of $187.06.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings results on Monday, August 12th. The company reported ($791.00) earnings per share for the quarter. The company had revenue of $0.07 million for 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 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 quarter. Institutional investors and hedge funds 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.