Short Interest in Mullen Automotive, Inc. (NASDAQ:MULN) Decreases By 97.8%

Mullen Automotive, Inc. (NASDAQ:MULN) was the recipient of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 166,900 shares, a drop of 97.8% from the January 31st total of 7,590,000 shares. Approximately 19.4% of the shares of the company are short sold. Based on an average daily volume of 1,720,000 shares, the days-to-cover ratio is currently 0.1 days.

Insider Buying and Selling

In other news, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total transaction of $158,795.00. Following the transaction, the director now directly owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.63% of the company’s stock.

Institutional Inflows and Outflows

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) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent quarter. Institutional investors own 11.71% of the company’s stock.

Mullen Automotive Price Performance

MULN opened at $2.96 on Friday. Mullen Automotive has a 12 month low of $2.29 and a 12 month high of $47,100.00. The business has a 50 day simple moving average of $29.74 and a 200-day simple moving average of $372.46.

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

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.