Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Drops By 77.7%

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 17,319 shares, a decrease of 77.7% from the December 15th total of 77,592 shares. Based on an average trading volume of 86,464 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.6% of the company’s shares are sold short. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 86,464 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ELPW. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Elong Power to a “hold” rating in a research note on Saturday, October 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Elong Power has a consensus rating of “Sell”.

Elong Power Trading Up 6.1%

ELPW traded up $0.13 during mid-day trading on Thursday, hitting $2.27. The stock had a trading volume of 147,859 shares, compared to its average volume of 89,137. Elong Power has a 1-year low of $1.73 and a 1-year high of $129.20. The stock’s fifty day simple moving average is $2.89 and its 200-day simple moving average is $14.41.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. acquired a new position in shares of Elong Power Holding Limited (NASDAQ:ELPW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned approximately 0.07% of Elong Power as of its most recent SEC filing. Institutional investors and hedge funds 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.