PMGC Holdings Inc. (NASDAQ:ELAB) Sees Significant Increase in Short Interest

PMGC Holdings Inc. (NASDAQ:ELAB) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 809,201 shares, an increase of 144.4% from the June 30th total of 331,075 shares. Approximately 69.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,484,044 shares, the days-to-cover ratio is currently 0.1 days.

PMGC Trading Up 2.2%

NASDAQ ELAB opened at $0.92 on Tuesday. The firm has a market cap of $1.07 million, a price-to-earnings ratio of -0.01 and a beta of -0.23. PMGC has a one year low of $0.84 and a one year high of $309.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.45. The firm has a 50 day simple moving average of $1.37 and a 200-day simple moving average of $6.23.

PMGC (NASDAQ:ELAB) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($11.22) EPS for the quarter. The business had revenue of $0.68 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PMGC in a research note on Friday, June 26th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

PMGC Company Profile

Elevai Labs, Inc, a skincare development company, designs, manufactures, and markets skincare products. Its products include Empower and Enfinity post-skincare procedure care serums for the face, neck, and upper chest regions. The company was formerly known as Reactive Medical Labs Inc and changed its name to Elevai Labs, Inc in December 2021. Elevai Labs, Inc was incorporated in 2020 and is based in Newport Beach, California.