Elong Power Holding Limited (NASDAQ:ELPW) Sees Significant Growth in Short Interest

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 1,250,328 shares, an increase of 179.4% from the January 29th total of 447,428 shares. Approximately 41.2% of the shares of the stock are short sold. Based on an average trading volume of 18,398,908 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 18,398,908 shares, the days-to-cover ratio is presently 0.1 days. Approximately 41.2% of the shares of the stock are short sold.

Institutional Trading of Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. bought a new position in Elong Power Holding Limited (NASDAQ:ELPW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Elong Power has a consensus rating of “Sell”.

Elong Power Stock Performance

Shares of Elong Power stock traded down $0.04 during midday trading on Friday, hitting $0.11. The company’s stock had a trading volume of 27,009,958 shares, compared to its average volume of 9,548,711. Elong Power has a 1-year low of $0.10 and a 1-year high of $129.20. The stock has a 50-day simple moving average of $1.63 and a 200-day simple moving average of $6.33.

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.