Short Interest in Mullen Automotive, Inc. (NASDAQ:MULN) Grows By 28.1%

Mullen Automotive, Inc. (NASDAQ:MULN) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 3,010,000 shares, an increase of 28.1% from the December 15th total of 2,350,000 shares. Based on an average trading volume of 5,080,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 46.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent filing with the SEC. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Mullen Automotive Trading Down 0.7 %

NASDAQ:MULN traded down $0.00 during midday trading on Friday, reaching $0.48. 4,158,194 shares of the company traded hands, compared to its average volume of 7,059,010. Mullen Automotive has a twelve month low of $0.36 and a twelve month high of $1,067.99. The company has a fifty day moving average price of $1.70 and a 200 day moving average price of $37.05.

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.