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

Elong Power Holding Limited (NASDAQ:ELPW) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 304,729 shares, a drop of 51.7% from the February 26th total of 631,095 shares. Currently, 48.9% of the company’s stock are short sold. Based on an average daily volume of 3,696,500 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

ELPW has been the subject of several research analyst reports. Wall Street Zen upgraded Elong Power to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Elong Power Price Performance

ELPW stock traded down $0.19 during trading hours on Friday, reaching $2.06. 128,759 shares of the stock were exchanged, compared to its average volume of 2,118,702. The firm’s 50-day moving average is $67.76 and its 200-day moving average is $239.85. Elong Power has a 12 month low of $2.05 and a 12 month high of $10,336.00.

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 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission. 88.31% of the stock is owned by hedge funds and other institutional investors.

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.