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

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 301,918 shares, a drop of 61.9% from the May 14th total of 793,279 shares. Currently, 48.5% of the shares of the stock are sold short. Based on an average daily volume of 1,129,891 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. bought a new stake in Elong Power Holding Limited (NASDAQ:ELPW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned about 0.07% of Elong Power at the end of the most recent quarter. 88.31% of the stock is owned by institutional investors and hedge funds.

Elong Power Stock Down 8.5%

NASDAQ:ELPW traded down $0.10 during mid-day trading on Friday, reaching $1.07. 1,965,146 shares of the company were exchanged, compared to its average volume of 8,290,550. Elong Power has a 12 month low of $0.66 and a 12 month high of $5,696.00. The company has a fifty day moving average of $2.16 and a 200 day moving average of $83.11.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ELPW. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elong Power in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.