Mullen Automotive, Inc.’s (NASDAQ:MULN – Get Rating) short interest rate fell sharply in December. As of Dec. 15, there were a total of 161 million shares shorted, down 8.3% from the Nov. 30 total of 175.58 million shares. Based on an average trading volume of 188.57 million shares, the current short-term interest rate ratio is 0.9 days. About 43.5% of the company’s shares have been sold short.
Mullen Automotive stock up 9.9%
Mullen Automotive shares opened at $0.29 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt to equity ratio of 0.27. Mullen Automotive has a 52-week low of $0.18 and a 52-week high of $5.86. The company has a 50-day simple moving average of $0.28 and a 200-day simple moving average of $0.58.
Insider activity at Mullen Automotive
In related news, director Kent Puckett sold 100,000 shares of Mullen Automotive stock in a transaction on Thursday, December 15th. Stocks sold for an average of $0.33 and total trading value he was $33,000.00. The sale is disclosed in legal documents to the Securities and Exchange Commission, available on his website at the SEC. His 33.40% of the shares are now owned by corporate insiders.
institution inflow and outflow
Large investors have recently bought and sold shares in the company. BlackRock Inc. raised his 233.8% stake in Mullen Automotive in the third quarter. BlackRock Inc. now owns 26,285,775 shares of the company after he purchased an additional 18,411,278 shares during the previous quarter. Vanguard Group Inc. increased his position at Mullen Automotive by 77.7% during the third quarter. Vanguard Group Inc. now owns 22,602,115 shares worth $7,409,000 after purchasing an additional 9,882,329 shares during this period. State Street Corp boosted his position in Mullen Automotive stock by 264.8% in the third quarter. State Street Corp now owns 3,754,251 shares worth $1,231,000 after purchasing an additional 2,725,107 shares during this period. Bank of New York Mellon Corp boosted his Mullen Automotive stock position by 208.6% in the third quarter. Bank of New York Mellon Corp now owns 1,430,628 shares worth $469,000 after purchasing an additional 967,087 shares during this period. Finally, Two Sigma Investments LP purchased a new position in Mullen Automotive shares in the third quarter for $441,000. 6.64% of the shares are owned by hedge funds and other institutional investors.
About Mullen Automotive
Mullen Automotive, Inc. is an electric vehicle company that manufactures and sells electric vehicles. He also runs CarHub, a digital platform that leverages AI to provide interactive solutions for buying, selling and owning cars. We offer battery technology and emergency point-of-care solutions.
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