Mullen Automotive, Inc. (NASDAQ:MULN) Short Interest Up 124.6% in January

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

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 SEC filing. Institutional investors and hedge funds own 11.71% of the company’s stock.

Mullen Automotive Stock Performance

MULN stock traded down $0.06 during trading on Thursday, hitting $0.25. 25,988,605 shares of the company’s stock traded hands, compared to its average volume of 15,942,166. The business has a fifty day simple moving average of $0.84 and a two-hundred day simple moving average 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.