Mullen Automotive, Inc. (NASDAQ:MULN) Short Interest Up 42.3% in March

Mullen Automotive, Inc. (NASDAQ:MULN) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,580,000 shares, a growth of 42.3% from the February 28th total of 1,110,000 shares. Currently, 52.2% of the shares of the company are short sold. Based on an average daily trading volume, of 9,980,000 shares, the days-to-cover ratio is presently 0.2 days.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, Director Mary Winter sold 62,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $2.01, for a total transaction of $124,620.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Kevin Andersen sold 174,500 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total value of $158,795.00. Following the transaction, the director now directly owns 9 shares of the company’s stock, valued at approximately $8.19. This trade represents a 99.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,216 shares of company stock valued at $302,766. 3.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 Securities & Exchange Commission. 11.71% of the stock is currently owned by institutional investors and hedge funds.

Mullen Automotive Stock Performance

Shares of NASDAQ:MULN traded down $0.05 on Friday, reaching $0.12. 55,933,350 shares of the company were exchanged, compared to its average volume of 3,418,447. The company has a 50-day moving average of $8.73 and a 200-day moving average of $110.66. Mullen Automotive has a 1-year low of $0.11 and a 1-year high of $47,100.00.

Mullen Automotive (NASDAQ:MULN) last issued its earnings results on Wednesday, February 19th. The company reported ($661.33) earnings per share for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The company had revenue of $2.92 million for the quarter.

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.