Short Interest in Mullen Automotive, Inc. (NASDAQ:MULN) Increases By 213.3%

Mullen Automotive, Inc. (NASDAQ:MULN) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 4,950,000 shares, a growth of 213.3% from the March 15th total of 1,580,000 shares. Currently, 502.5% of the company’s shares are sold short. Based on an average trading volume of 28,640,000 shares, the days-to-cover ratio is currently 0.2 days.

Mullen Automotive Stock Down 19.0 %

MULN stock traded down $0.35 on Tuesday, hitting $1.49. The company’s stock had a trading volume of 2,224,379 shares, compared to its average volume of 425,038. The firm has a 50 day moving average of $344.65 and a two-hundred day moving average of $6,875.19. Mullen Automotive has a 1 year low of $1.46 and a 1 year high of $4,710,000.00.

Mullen Automotive (NASDAQ:MULN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($66,133.00) earnings per share for the quarter. Mullen Automotive had a negative return on equity of 2,736.27% and a negative net margin of 12,717.94%. The company had revenue of $2.92 million for the quarter.

Insider Activity at Mullen Automotive

In related news, Director Mary Winter sold 620 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $201.00, for a total transaction of $124,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Financial Lp Hrt acquired 5,467 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $8.00 per share, for a total transaction of $43,736.00. Following the acquisition, the insider now owns 6,653 shares in the company, valued at approximately $53,224. The trade was a 460.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 667 shares of company stock worth $143,911 in the last three months. 3.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 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.