Written by Cláudio Afonso | info@claudio-afonso.com
The EV manufacturer based on Southern California Mullen reached on April its highest level of Institutional Owners with 58 shareholders owning a total of 1,332,751 shares. Among the largest shareholders there’s: Cutler Group LP, Cetera Advisor Networks LLC, BlackRock Inc., Vanguard Group Inc, Cutler Group LP, Belvedere Trading LLC, and VTSMX.
On February 10, the world’s largest asset manager BlackRock, filed a 13F-HR form disclosing ownership of 195,101 Mullen shares valued at $1.02M as of December 31. Previously, on November 9, 2021, BlackRock disclosed owning 151,612 shares of Mullen at a value of $1.25M. The firm increased its position on the electric vehicle maker by 28.68 percent during Q4 2021.
On April 14, Cutler Group LP has filed a 13F-HR form disclosing ownership of call options representing 838,800 of shares valued at $469k and put options representing 142,200 of underlying shares valued at $88k . The firm also holds 34,082 shares of Mullen with total holdings valued at $101k as of end of Q1 2022.
Also Peizer Terren S. recently (March 10) filed an SC 13G/A form with the SEC disclosing ownership of 29,363,838 shares of Mullen — owning9.99 percent of the company. In their previous filing dated 2022-01-25 , Peizer Terren S had reported owning 11,363,838 shares, indicating an increase of 158.40 percent since late January.
On Sunday, Mullen teased via Twitter its Van production ahead of the first deliveries in Q2 2022, as announced by Mullen’s CEO on March 30. At the time, David Michery unveiled that a Fortune500 company is going to buy “a lot of these vehicles” with the official press release expected during the next weeks.
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Last week, the company announced the solid-state polymer battery testing with the Battery Innovation Center (BIC) in Indiana. BIC is focused on the rapid development, testing and commercialization of safe, reliable and lightweight energy storage systems for defense and commercial customers.
Recently, EVgo tweeted that they “look forward to seeing the Mullen FIVE hit the streets in 2o24″. The Fast Charging Network also claimed that they’ve got “the network to keep future Mullen drivers going”. This is the first time EVgo mentions the California-based EV maker, although, there’s no official confirmation on a future partnership between the companies for Mullen customers.
The company announced on Monday that plans to begin EV battery pack production out of its high voltage battery R&D facility located in Monrovia, California. Mullen is retrofitting its Monrovia facility to accommodate the production of EV battery packs destined for Mullen’s EV vehicle lineup, including the ONE EV Cargo Van, FIVE EV Crossover, and DragonFLY EV Sportscar programs.
On April 8, The host of Risk on Show Podcast interviewed Tom Gage, the engineer who tested Mullen’s batteries confirming its results. The episode came one the day after Hindenburg Research Firm claimed that the electric vehicle maker “apparently misrepresented the test results, according to the CEO of the company that performed the tests”.
According to a SEC filing revealed last week, Mullen‘s President of Automotive Division accquired 100,000 shares on April 8. Mullen’s President Calin Popa owns now a total of 159,729 Mullen shares. Popa’s transaction nature was Type A — Grant, award or other under Rule 16b-3(d) and represents a direct ownership.
On April 1, Mullen’s CEO David Michery, filed a SEC form announcing changes in beneficial ownership with transactions made betwen March 22 and March 28, 2022. Michery sold 300,000 shares at an average price of $2.495 ($748,500 USD), disposed of 428,382 contracts and acquired 1,198,328 contracts. Last December, Michery had filed a form disclosing ownership of 22,174,720 shares of Mullen — 62.5% ownership.
Written by Cláudio Afonso | info@claudio-afonso.com