Mullen Automotive (NASDAQ:MULN) Shares Up 13.3% – Should You Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) shot up 13.3% during trading on Tuesday . The company traded as high as $1.46 and last traded at $1.25. 26,206,906 shares changed hands during trading, an increase of 2,044% from the average session volume of 1,222,070 shares. The stock had previously closed at $1.10.

Mullen Automotive Trading Up 9.1 %

The business has a fifty day moving average price of $2.05 and a 200 day moving average price of $57.00.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent filing with the 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 quarter. Institutional investors and hedge funds 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.