Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Grows By 146.1%

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 253,177 shares, a growth of 146.1% from the April 15th total of 102,855 shares. Based on an average daily volume of 14,741,555 shares, the days-to-cover ratio is presently 0.0 days. Approximately 40.6% of the shares of the stock are sold short.

Elong Power Trading Down 51.0%

ELPW traded down $0.99 during trading hours on Friday, hitting $0.95. The company’s stock had a trading volume of 9,741,566 shares, compared to its average volume of 10,977,436. The business’s 50-day moving average price is $3.17 and its 200-day moving average price is $129.47. Elong Power has a 12 month low of $0.76 and a 12 month high of $10,336.00.

Elong Power (NASDAQ:ELPW) last announced its quarterly earnings results on Monday, April 20th. The company reported ($71.57) earnings per share for the quarter. The company had revenue of $0.92 million for the quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ELPW. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a research note on Friday, April 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Elong Power has a consensus rating of “Sell”.

Institutional Investors Weigh In On Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. purchased a new position 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 (SEC). The fund purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned about 0.07% of Elong Power as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.