Mullen Automotive (NASDAQ:MULN) Trading 30.4% Higher

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

Mullen Automotive Price Performance

The company’s 50-day moving average is $5.45 and its 200 day moving average is $13.20.

Mullen Automotive (NASDAQ:MULN) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($15.32) EPS for the quarter.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently raised its stake in Mullen Automotive stock. Bank of New York Mellon Corp boosted its holdings in shares of Mullen Automotive, Inc. (NASDAQ:MULN) by 1,064.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 263,844 shares of the company’s stock after buying an additional 241,190 shares during the quarter. Bank of New York Mellon Corp owned 0.14% of Mullen Automotive worth $120,000 at the end of the most recent reporting period. 11.71% of the stock is owned by hedge funds and other 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.