Mullen Automotive, Inc. (NASDAQ:MULN) Short Interest Update

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

Mullen Automotive Stock Performance

Shares of NASDAQ MULN traded down $1.08 during midday trading on Thursday, hitting $2.96. The stock had a trading volume of 3,878,476 shares, compared to its average volume of 3,002,955. Mullen Automotive has a 1-year low of $2.29 and a 1-year high of $47,100.00. The company has a fifty day moving average price of $31.11 and a 200 day moving average price of $375.04.

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

Insider Buying and Selling at Mullen Automotive

In other news, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction dated 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 $8.19. The trade was a 99.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 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 SEC filing. Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.