Elong Power Holding Limited (NASDAQ:ELPW) Short Interest Update

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 253,177 shares, an increase of 146.1% from the April 15th total of 102,855 shares. Based on an average daily volume of 14,741,555 shares, the short-interest ratio is presently 0.0 days. Approximately 40.6% of the company’s stock are short sold.

Institutional Trading of Elong Power

An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. purchased a new position in shares of Elong Power Holding Limited (NASDAQ:ELPW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned about 0.07% of Elong Power as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 88.31% of the company’s stock.

Elong Power Stock Down 51.0%

Shares of NASDAQ:ELPW traded down $0.99 during midday trading on Friday, reaching $0.95. The company had a trading volume of 9,741,566 shares, compared to its average volume of 10,977,436. The stock’s fifty day moving average price is $3.17 and its 200-day moving average price is $129.47. Elong Power has a one year low of $0.76 and a one year high of $10,336.00.

Elong Power (NASDAQ:ELPW) last released its earnings results on Monday, April 20th. The company reported ($71.57) earnings per share for the quarter. The business had revenue of $0.92 million for the quarter.

Analysts Set New Price Targets

ELPW has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Elong Power Company Profile

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.