Mullen Automotive (NASDAQ:MULN) Trading 0.9% Higher – Still a Buy?

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 0.9% during mid-day trading on Monday . The company traded as high as $2.33 and last traded at $2.28. Approximately 554,939 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 940,127 shares. The stock had previously closed at $2.26.

Mullen Automotive Price Performance

The stock’s fifty day moving average is $2.44 and its 200-day moving average is $93.81.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). 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.