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

Elong Power Holding Limited (NASDAQ:ELPW) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 38,048 shares, a decrease of 96.3% from the July 30th total of 1,036,463 shares. Approximately 32.8% of the shares of the company are sold short. Based on an average daily volume of 2,149,143 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Elong Power stock. Invesco Ltd. purchased a new position in shares of Elong Power Holding Limited (NASDAQ:ELPW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 reporting period. 88.31% of the stock is owned by institutional investors and hedge funds.

Elong Power Trading Up 5.7%

ELPW stock traded up $0.22 on Tuesday, reaching $4.10. 128,790 shares of the company’s stock were exchanged, compared to its average volume of 268,658. The stock has a fifty day moving average of $20.01 and a 200-day moving average of $402.19. Elong Power has a twelve month low of $3.48 and a twelve month high of $54,972.00.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ELPW shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus 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.