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

Elong Power Holding Limited (NASDAQ:ELPW) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 301,918 shares, a decline of 61.9% from the May 14th total of 793,279 shares. Approximately 48.5% of the company’s stock are short sold. Based on an average daily volume of 1,129,891 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. acquired a new position in shares of Elong Power Holding Limited (NASDAQ:ELPW) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 reporting period. 88.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Elong Power Trading Down 8.5%

Shares of ELPW stock traded down $0.10 during midday trading on Friday, hitting $1.07. The company had a trading volume of 1,965,146 shares, compared to its average volume of 8,290,550. The company’s 50 day simple moving average is $2.16 and its 200 day simple moving average is $81.94. Elong Power has a 52-week low of $0.66 and a 52-week high of $5,696.00.

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

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.