Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Expands By 143.4%

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

Hedge Funds Weigh In On Elong Power

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

Analysts Set New Price Targets

A number of research firms have weighed in on ELPW. Wall Street Zen downgraded shares of Elong Power from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a research note on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Elong Power Price Performance

NASDAQ:ELPW opened at $0.20 on Tuesday. Elong Power has a fifty-two week low of $0.19 and a fifty-two week high of $5,696.00. The business has a 50 day moving average price of $0.77 and a 200-day moving average price of $34.07.

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

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.