Mullen Automotive, Inc. (NASDAQ:MULN) Short Interest Down 97.8% in February

Mullen Automotive, Inc. (NASDAQ:MULN) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 166,900 shares, a drop 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 short-interest ratio is presently 0.1 days. Approximately 19.4% of the shares of the stock are sold short.

Mullen Automotive Stock Down 26.7 %

MULN stock opened at $2.96 on Friday. The company has a 50 day moving average price of $29.74 and a two-hundred day moving average price of $372.46. Mullen Automotive has a one year low of $2.29 and a one year high of $47,100.00.

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

Insiders Place Their Bets

In other news, Director John Kevin Andersen sold 174,500 shares of Mullen Automotive stock in a transaction dated Tuesday, January 7th. The shares were 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 directly owns 9 shares in the company, valued at $8.19. The trade was a 99.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.63% of the stock is currently owned by company insiders.

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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.