Mullen Automotive (NASDAQ:MULN) Trading 5.1% Higher – Still a Buy?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price shot up 5.1% during trading on Monday . The stock traded as high as $1.04 and last traded at $1.02. 4,300,855 shares were traded during mid-day trading, a decline of 53% from the average session volume of 9,128,700 shares. The stock had previously closed at $0.97.

Mullen Automotive Price Performance

The company’s 50 day simple moving average is $1.98 and its 200 day simple moving average is $51.94.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the SEC. 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.