Mullen Automotive, Inc. (NASDAQ:MULN – Get Rating) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 168,440,000 shares, a drop of 19.9% from the December 31st total of 210,260,000 shares. Currently, 11.6% of the shares of the company are sold short. Based on an average daily volume of 228,160,000 shares, the days-to-cover ratio is presently 0.7 days.
Insider Buying and Selling
In related news, Director Kent Puckett sold 100,000 shares of the firm's stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $0.33, for a total value of $33,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 33.40% of the stock is owned by insiders.
Get Mullen Automotive alerts:Hedge Funds Weigh In On Mullen Automotive
A number of institutional investors have recently bought and sold shares of MULN. JPMorgan Chase & Co. purchased a new stake in Mullen Automotive in the 1st quarter worth $46,000. Rhumbline Advisers purchased a new stake in Mullen Automotive in the 2nd quarter worth $25,000. Northern Trust Corp purchased a new stake in Mullen Automotive in the 1st quarter worth $84,000. Atria Wealth Solutions Inc. purchased a new position in shares of Mullen Automotive during the second quarter valued at about $31,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Mullen Automotive by 103.0% during the second quarter. Commonwealth Equity Services LLC now owns 31,294 shares of the company's stock valued at $31,000 after purchasing an additional 15,878 shares in the last quarter. 6.64% of the stock is owned by institutional investors.
Mullen Automotive Price Performance
Mullen Automotive stock traded up $0.01 during trading on Friday, reaching $0.33. The company had a trading volume of 247,201,546 shares, compared to its average volume of 235,981,616. Mullen Automotive has a 52 week low of $0.18 and a 52 week high of $4.18. The firm's 50-day simple moving average is $0.27 and its 200 day simple moving average is $0.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.71 and a quick ratio of 0.71.Mullen Automotive Company Profile
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Mullen Automotive Inc is a southern California-based electric vehicle company, which engages in the manufacture of passenger electric vehicles and commercial vehicles. The company was founded on April 20, 2010 and is headquartered in Brea, CA.
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