Mullen Automotive (NASDAQ:MULN) Shares Up 1.1% – Should You Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price rose 1.1% on Tuesday . The stock traded as high as $0.28 and last traded at $0.27. Approximately 4,927,217 shares changed hands during trading, a decline of 69% from the average daily volume of 15,680,293 shares. The stock had previously closed at $0.26.

Mullen Automotive Stock Up 1.9 %

The company’s fifty day moving average price is $1.16 and its two-hundred day moving average price is $18.22.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 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.

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.