Elong Power Holding Limited (NASDAQ:ELPW) Sees Significant Increase in Short Interest

Elong Power Holding Limited (NASDAQ:ELPW) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 1,401,895 shares, a growth of 143.4% from the June 30th total of 576,022 shares. Based on an average trading volume of 31,885,623 shares, the short-interest ratio is currently 0.0 days. Approximately 26.7% of the company’s stock are sold short.

Elong Power Stock Performance

ELPW stock opened at $0.18 on Thursday. The business has a 50 day moving average price of $0.73 and a 200 day moving average price of $31.75. Elong Power has a fifty-two week low of $0.17 and a fifty-two week high of $5,696.00.

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

Analysts Set New Price Targets

ELPW has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a report on Tuesday, July 21st. Wall Street Zen lowered Elong Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. One research 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. purchased a new stake in Elong Power Holding Limited (NASDAQ:ELPW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned about 0.07% of Elong Power at the end of the most recent reporting period. Institutional investors own 88.31% of the company’s stock.

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.