Short Interest in Mullen Automotive, Inc. (NASDAQ:MULN) Expands By 124.6%

Mullen Automotive, Inc. (NASDAQ:MULN) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 7,590,000 shares, a growth of 124.6% from the January 15th total of 3,380,000 shares. Approximately 16.0% of the company’s shares are short sold. Based on an average daily trading volume, of 9,600,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent disclosure with the Securities and 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 SEC filing. 11.71% of the stock is currently owned by institutional investors and hedge funds.

Mullen Automotive Price Performance

Mullen Automotive stock traded down $0.06 during trading hours on Thursday, hitting $0.25. The company had a trading volume of 25,988,605 shares, compared to its average volume of 15,942,166. The company has a 50-day moving average price of $0.84 and a two-hundred day moving average price of $12.63. Mullen Automotive has a 1 year low of $0.18 and a 1 year high of $987.00.

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.