Elong Power (NASDAQ:ELPW) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Elong Power (NASDAQ:ELPW) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Elong Power Trading Down 2.2%

Shares of NASDAQ ELPW opened at $3.09 on Friday. The firm’s 50 day moving average price is $12.86 and its 200-day moving average price is $160.30. Elong Power has a 52-week low of $3.01 and a 52-week high of $54,972.00.

Institutional Trading of Elong Power

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