Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Rises By 4,701.8%

Elong Power Holding Limited (NASDAQ:ELPW) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 447,428 shares, a growth of 4,701.8% from the January 15th total of 9,318 shares. Based on an average daily trading volume, of 3,390,063 shares, the days-to-cover ratio is presently 0.1 days. Currently, 14.7% of the company’s shares are sold short. Currently, 14.7% of the company’s shares are sold short. Based on an average daily trading volume, of 3,390,063 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. acquired a new position in Elong Power Holding Limited (NASDAQ:ELPW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 0.07% of Elong Power as of its most recent filing with the Securities and Exchange Commission. 88.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Elong Power Price Performance

Shares of Elong Power stock opened at $0.86 on Wednesday. The company’s fifty day simple moving average is $2.25 and its two-hundred day simple moving average is $10.56. Elong Power has a 12-month low of $0.28 and a 12-month high of $129.20.

About Elong Power

Elong Power (NASDAQ: ELPW) is a China-based designer, manufacturer and distributor of high- and medium-voltage electrical equipment used in power transmission and distribution networks. The company’s product portfolio includes gas-insulated switchgear (GIS), metal-enclosed switchgear, load break switches, ring main units (RMUs) and power distribution cabinets, as well as related control and protection systems. Elong Power’s equipment is engineered to facilitate safe and efficient delivery of electricity across urban and rural networks.

In addition to core switchgear products, Elong Power provides turnkey solutions that encompass system design, installation, commissioning and after-sales maintenance.