Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Grows By 133.0%

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

Institutional Trading of Elong Power

A hedge fund recently bought a new position in Elong Power stock. Invesco Ltd. purchased a new position in Elong Power Holding Limited (NASDAQ:ELPW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 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.

Wall Street Analyst Weigh In

ELPW has been the subject of a number of analyst reports. Weiss Ratings restated 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Elong Power Stock Up 11.0%

Elong Power stock traded up $0.10 during mid-day trading on Monday, reaching $1.00. 283,312 shares of the stock traded hands, compared to its average volume of 3,881,524. Elong Power has a 12-month low of $0.66 and a 12-month high of $5,696.00. The business’s 50-day moving average is $1.99 and its 200-day moving average is $62.72.

Elong Power (NASDAQ:ELPW) last released its quarterly earnings results on Monday, April 20th. The company reported ($71.57) earnings per share (EPS) for the quarter. The business 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.