Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Rises By 129.7%

Elong Power Holding Limited (NASDAQ:ELPW) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 102,855 shares, a growth of 129.7% from the March 31st total of 44,781 shares. Based on an average daily trading volume, of 3,094,272 shares, the short-interest ratio is presently 0.0 days. Approximately 16.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

ELPW has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a research report on Friday. Wall Street Zen raised shares of Elong Power to a “hold” rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. acquired a new stake in Elong Power Holding Limited (NASDAQ:ELPW) during the second quarter, according to its most recent 13F 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 approximately 0.07% of Elong Power at the end of the most recent quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

Elong Power Stock Performance

ELPW stock traded up $0.95 during midday trading on Friday, hitting $3.62. The company’s stock had a trading volume of 64,759,914 shares, compared to its average volume of 6,092,059. Elong Power has a 52-week low of $1.38 and a 52-week high of $10,336.00. The firm has a 50-day simple moving average of $9.98 and a 200-day simple moving average of $180.79.

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.