Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Decreases By 51.7%

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

Elong Power Stock Down 8.4%

Shares of Elong Power stock traded down $0.19 during trading on Friday, reaching $2.06. The company’s stock had a trading volume of 128,624 shares, compared to its average volume of 793,600. The business has a 50 day moving average price of $71.14 and a 200-day moving average price of $241.53. Elong Power has a 12-month low of $2.05 and a 12-month high of $10,336.00.

Hedge Funds Weigh In On Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. purchased a new stake in Elong Power Holding Limited (NASDAQ:ELPW) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 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 SEC filing. 88.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Elong Power to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reissued 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, According to MarketBeat, the company has a consensus rating of “Sell”.

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.