Mullen Automotive (NASDAQ:MULN) Trading Up 0.9% – Still a Buy?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded up 0.9% during trading on Monday . The stock traded as high as $2.33 and last traded at $2.28. 554,939 shares were traded during trading, a decline of 41% from the average session volume of 940,127 shares. The stock had previously closed at $2.26.

Mullen Automotive Stock Performance

The company’s 50-day simple moving average is $2.44 and its 200 day simple moving average is $93.81.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors.

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.