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

Elong Power Holding Limited (NASDAQ:ELPW) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 334,307 shares, an increase of 474.9% from the October 15th total of 58,148 shares. Based on an average daily volume of 3,654,802 shares, the short-interest ratio is presently 0.1 days. Currently, 288.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Elong Power from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Weiss Ratings upgraded Elong Power from a “sell (e)” rating to a “sell (d)” rating in a research report on Tuesday, October 13th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Elong Power has a consensus rating of “Sell”.

Elong Power Stock Up 1.3%

ELPW stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.01. 137,277 shares of the company traded hands, compared to its average volume of 768,430. The company has a fifty day moving average price of $2.58 and a 200-day moving average price of $626.41. Elong Power has a 52-week low of $0.96 and a 52-week high of $54,972.00.

Elong Power (NASDAQ:ELPW) last announced its quarterly earnings results on Tuesday, October 6th. The company reported $205.69 earnings per share (EPS) for the quarter. The firm had revenue of $1.45 million during the quarter.

About Elong Power

Elong Power Holding Limited is a battery technology company focused on the development and manufacture of lithium-ion battery products. Through its operating subsidiaries, the company serves applications associated with electric mobility, energy storage and other uses that require rechargeable power solutions. Its product offerings include lithium-ion battery cells, battery modules and battery packs, as well as related battery-system solutions. These products are intended for use in areas such as electric vehicles, energy-storage systems, power tools and other equipment requiring portable or stationary electrical power.