Mullen Automotive (NASDAQ:MULN) Stock Price Up 2.3% – Still a Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) shot up 2.3% during trading on Thursday . The stock traded as high as $2.79 and last traded at $2.68. 668,701 shares changed hands during trading, a decline of 29% from the average session volume of 936,191 shares. The stock had previously closed at $2.62.

Mullen Automotive Price Performance

The firm’s 50 day moving average price is $2.81 and its two-hundred day moving average price is $126.95.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 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.