Earlyworks (NASDAQ:ELWS) Shares Down 10.2% – Here’s Why

Earlyworks Co., Ltd. Unsponsored ADR (NASDAQ:ELWS)’s share price was down 10.2% during mid-day trading on Thursday . The company traded as low as $3.77 and last traded at $4.05. Approximately 835,805 shares changed hands during mid-day trading, an increase of 1,532% from the average daily volume of 51,215 shares. The stock had previously closed at $4.51.

Wall Street Analysts Forecast Growth

ELWS has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Earlyworks in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Earlyworks from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Earlyworks presently has an average rating of “Sell”.

Earlyworks Stock Performance

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $5.73 and its two-hundred day moving average price is $4.38.

Earlyworks Company Profile

Earlyworks Co, Ltd operates as a blockchain-based technology company in Japan. The company builds products, deliver services, and develop solutions based on its proprietary Grid Ledger System to leverage blockchain technology in various business settings, including advertisement tracking, online visitor management, and sales of non-fungible tokens. It also provides software and system development services; consulting and solution services; blockchain system solution planning; and proposal, design, and development planning services.