Mullen Automotive, Inc. (NASDAQ:MULN – Get Rating) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 59,670,000 shares, a growth of 16.7% from the June 30th total of 51,120,000 shares. Currently, 13.7% of the company’s shares are short sold. Based on an average daily volume of 62,000,000 shares, the days-to-cover ratio is presently 1.0 days.
Mullen Automotive Stock Performance
Shares of MULN stock opened at $0.84 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.94 and a quick ratio of 1.94. The stock has a market cap of $280.38 million, a PE ratio of -1.28 and a beta of 2.55. The stock has a 50-day moving average of $1.13 and a 200-day moving average of $1.61. Mullen Automotive has a one year low of $0.52 and a one year high of $15.90.
Insiders Place Their Bets
In other Mullen Automotive news, CEO David Michery sold 150,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $1.10, for a total transaction of $165,000.00. Following the completion of the sale, the chief executive officer now directly owns 7,761,066 shares of the company’s stock, valued at approximately $8,537,172.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 1,250,000 shares of company stock valued at $1,314,500. 30.10% of the stock is currently owned by insiders.
Institutional Trading of Mullen Automotive
Mullen Automotive Company Profile
Mullen Automotive, Inc, an electric vehicle company, manufactures and distributes electric vehicles. It also operates CarHub, a digital platform that leverages AI to offer an interactive solution for buying, selling, and owning a car; and provides battery technology and emergency point-of-care solutions.
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