Mullen Automotive (NASDAQ:MULN) Shares Up 13.8% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded up 13.8% during trading on Thursday . The stock traded as high as $0.35 and last traded at $0.35. 6,476,192 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 15,271,905 shares. The stock had previously closed at $0.30.

Mullen Automotive Price Performance

The firm has a 50-day moving average price of $0.84 and a 200 day moving average price of $12.63.

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) during the third quarter, according to the company in its most recent Form 13F 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 at the end of the most recent reporting period. 11.71% of the stock is owned by hedge funds and other institutional investors.

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.