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

Mullen Automotive, Inc. (NASDAQ:MULN) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,580,000 shares, an increase of 42.3% from the February 28th total of 1,110,000 shares. Currently, 52.2% of the company’s stock are short sold. Based on an average daily volume of 9,980,000 shares, the short-interest ratio is presently 0.2 days.

Mullen Automotive Price Performance

NASDAQ:MULN traded down $0.05 during midday trading on Friday, hitting $0.12. 55,933,350 shares of the company were exchanged, compared to its average volume of 3,418,447. Mullen Automotive has a fifty-two week low of $0.11 and a fifty-two week high of $47,100.00. The company has a fifty day simple moving average of $8.73 and a 200 day simple moving average of $110.66.

Mullen Automotive (NASDAQ:MULN) last posted its earnings results on Wednesday, February 19th. The company reported ($661.33) EPS for the quarter. The firm 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 Buying and Selling

In related news, Director John Kevin Andersen sold 174,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $0.91, for a total transaction of $158,795.00. Following the completion of the sale, the director now owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Winter sold 62,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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. Over the last quarter, insiders sold 241,216 shares of company stock worth $302,766. 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 position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 11.71% of the company’s stock.

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.