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

Mullen Automotive, Inc. (NASDAQ:MULN) was the recipient of a large growth in short interest in 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. Approximately 52.2% of the shares of the stock are short sold. Based on an average daily volume of 9,980,000 shares, the short-interest ratio is currently 0.2 days.

Mullen Automotive Stock Down 8.7 %

MULN traded down $0.01 during trading on Monday, hitting $0.11. 203,817,868 shares of the stock traded hands, compared to its average volume of 4,221,633. Mullen Automotive has a twelve month low of $0.10 and a twelve month high of $47,100.00. The business has a 50 day moving average price of $8.73 and a 200 day moving average price of $110.66.

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

Insider Activity at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $0.91, for a total value of $158,795.00. Following the completion of the sale, the director now owns 9 shares in the company, valued at $8.19. This trade represents 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. Also, Director Mary Winter sold 62,000 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 241,216 shares of company stock valued at $302,766 in the last three months. 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 stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive at the end of the most recent reporting period. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.