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

Elong Power Holding Limited (NASDAQ:ELPW) saw a large decline in short interest in August. As of August 14th, there was short interest totaling 38,048 shares, a decline of 96.3% from the July 30th total of 1,036,463 shares. Approximately 32.8% of the shares of the stock are short sold. Based on an average trading volume of 2,149,143 shares, the days-to-cover ratio is presently 0.0 days.

Elong Power Stock Performance

Shares of ELPW opened at $3.98 on Thursday. The company has a 50-day moving average of $18.36 and a two-hundred day moving average of $345.45. Elong Power has a 12-month low of $3.48 and a 12-month high of $54,972.00.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELPW. Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Elong Power has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. purchased a new stake in shares of Elong Power Holding Limited (NASDAQ:ELPW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned approximately 0.07% of Elong Power at the end of the most recent quarter. 88.31% of the stock is owned by institutional investors.

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.