Short Interest in Mullen Automotive, Inc. (NASDAQ:MULN) Declines By 98.5%

Mullen Automotive, Inc. (NASDAQ:MULN) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 156,400 shares, a drop of 98.5% from the August 31st total of 10,760,000 shares. Based on an average daily trading volume, of 448,400 shares, the days-to-cover ratio is presently 0.3 days.

Mullen Automotive Stock Performance

Shares of NASDAQ MULN opened at $4.22 on Friday. Mullen Automotive has a one year low of $4.10 and a one year high of $5,180.00. The company’s fifty day moving average is $1.53 and its two-hundred day moving average is $3.06.

Mullen Automotive (NASDAQ:MULN) last released its quarterly earnings data on Monday, August 12th. The company reported ($7.91) EPS for the quarter. The company had revenue of $0.07 million for the quarter.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned about 0.63% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by institutional investors and hedge funds.

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.