Mullen Automotive (NASDAQ:MULN) Trading Up 2.5% – Time to Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price shot up 2.5% on Friday . The stock traded as high as $2.44 and last traded at $2.42. 297,633 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 385,265 shares. The stock had previously closed at $2.36.

Mullen Automotive Stock Performance

The business’s 50 day simple moving average is $15.36 and its 200-day simple moving average is $212.62.

Mullen Automotive (NASDAQ:MULN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($791.00) earnings per share (EPS) for the quarter. The firm had revenue of $0.07 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive as of its most recent SEC filing. 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.