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

Elong Power Holding Limited (NASDAQ:ELPW) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 703,410 shares, a growth of 133.0% from the May 31st total of 301,918 shares. Approximately 112.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,280,048 shares, the short-interest ratio is currently 0.1 days.

Elong Power Trading Down 3.0%

NASDAQ ELPW traded down $0.03 during trading hours on Wednesday, reaching $0.95. 152,547 shares of the company’s stock traded hands, compared to its average volume of 3,823,360. Elong Power has a 52-week low of $0.66 and a 52-week high of $5,696.00. The firm has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $60.49.

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

Wall Street Analysts Forecast Growth

ELPW has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Elong Power currently has an average rating of “Sell”.

Institutional Investors Weigh In On Elong Power

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

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.