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

Mullen Automotive, Inc. (NASDAQ:MULN) saw a significant 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. Based on an average daily trading volume, of 9,980,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 52.2% of the shares of the company are short sold.

Insider Activity at Mullen Automotive

In other Mullen Automotive news, Director John Kevin Andersen sold 174,500 shares of the company’s 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 completion of the sale, the director now owns 9 shares in the company, valued at $8.19. This represents a 99.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mary Winter sold 62,000 shares of Mullen Automotive stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $2.01, for a total value of $124,620.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,216 shares of company stock worth $302,766. 3.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position 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 fund bought 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 Securities & Exchange Commission. Institutional investors own 11.71% of the company’s stock.

Mullen Automotive Stock Up 1.9 %

Shares of MULN stock traded up $0.00 on Tuesday, hitting $0.11. 74,340,972 shares of the stock traded hands, compared to its average volume of 4,525,291. Mullen Automotive has a 52 week low of $0.10 and a 52 week high of $47,100.00. The firm has a 50 day simple moving average of $7.65 and a two-hundred day simple moving average of $98.02.

Mullen Automotive (NASDAQ:MULN) last posted 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 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.