Mullen Automotive (NASDAQ:MULN) Trading 30.4% Higher

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) shot up 30.4% on Wednesday . The company traded as high as $3.93 and last traded at $3.56. 6,096,833 shares traded hands during trading, an increase of 657% from the average session volume of 805,639 shares. The stock had previously closed at $2.73.

Mullen Automotive Stock Performance

The stock’s 50 day moving average is $5.45 and its two-hundred day moving average is $13.20.

Mullen Automotive (NASDAQ:MULN) last released its earnings results on Tuesday, February 13th. The company reported ($15.32) earnings per share for the quarter.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. FNY Investment Advisers LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,700 shares of the company’s stock, valued at approximately $38,000. FNY Investment Advisers LLC owned about 0.07% of Mullen Automotive as of its most recent SEC filing. Institutional investors 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.