Eshallgo Inc. (NASDAQ:EHGO) Short Interest Down 52.9% in August

Eshallgo Inc. (NASDAQ:EHGO) was the target of a large decrease in short interest in August. As of August 14th, there was short interest totaling 83,060 shares, a decrease of 52.9% from the July 30th total of 176,188 shares. Based on an average daily volume of 120,976 shares, the days-to-cover ratio is currently 0.7 days. Currently, 4.1% of the company’s shares are sold short.

Analysts Set New Price Targets

EHGO has been the topic of a number of research reports. Wall Street Zen raised shares of Eshallgo from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Eshallgo in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Eshallgo Stock Performance

Eshallgo stock traded down $0.06 on Friday, hitting $1.12. 201,286 shares of the stock traded hands, compared to its average volume of 3,202,178. The business’s fifty day simple moving average is $2.07 and its 200 day simple moving average is $2.38. Eshallgo has a 1 year low of $1.07 and a 1 year high of $12.04.

Eshallgo (NASDAQ:EHGO) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.65) earnings per share (EPS) for the quarter. The company had revenue of $4.26 million for the quarter.

Hedge Funds Weigh In On Eshallgo

A hedge fund recently bought a new position in Eshallgo stock. Yorkville Advisors Global LP purchased a new position in Eshallgo Inc. (NASDAQ:EHGO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 272,500 shares of the company’s stock, valued at approximately $59,000. Eshallgo comprises 0.0% of Yorkville Advisors Global LP’s holdings, making the stock its 25th largest holding. Yorkville Advisors Global LP owned 0.84% of Eshallgo as of its most recent filing with the Securities and Exchange Commission.

About Eshallgo

Eshallgo Inc, through its subsidiaries, engages in the sale and leasing of office equipment and after-sale maintenance and repair services in the People’s Republic of China. The company also sells office furniture, IT products, water dispensers, printing papers, and other products, as well as provides maintenance services with enterprise resource planning systems. It serves private and public sector businesses, as well as large enterprises and institutions. The company was founded in 2015 and is based in Shanghai, China.