Mullen Automotive (NASDAQ:MULN) Shares Up 32.4%

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 32.4% on Monday . The company traded as high as $5.99 and last traded at $5.52. Approximately 10,961,135 shares were traded during trading, an increase of 333% from the average daily volume of 2,529,885 shares. The stock had previously closed at $4.17.

Mullen Automotive Stock Performance

The stock has a 50 day simple moving average of $4.89 and a two-hundred day simple moving average of $11.18.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($15.32) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently raised its stake in Mullen Automotive stock. Bank of New York Mellon Corp lifted its stake in Mullen Automotive, Inc. (NASDAQ:MULN) by 1,064.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 263,844 shares of the company’s stock after purchasing an additional 241,190 shares during the period. Bank of New York Mellon Corp owned about 0.14% of Mullen Automotive worth $120,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.