Elong Power Holding Limited (NASDAQ:ELPW) Short Interest Up 133.0% in June

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 703,410 shares, a growth of 133.0% from the May 31st total of 301,918 shares. Currently, 112.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,280,048 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ELPW. Wall Street Zen raised Elong Power to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a research note on Friday, April 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Elong Power Trading Down 1.9%

Shares of Elong Power stock traded down $0.02 during mid-day trading on Tuesday, reaching $0.98. 307,774 shares of the stock were exchanged, compared to its average volume of 3,852,702. Elong Power has a fifty-two week low of $0.66 and a fifty-two week high of $5,696.00. The firm has a 50-day simple moving average of $1.97 and a 200 day simple moving average of $62.28.

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

Institutional Trading of Elong Power

A hedge fund recently bought a new position in Elong Power stock. Invesco Ltd. acquired a new position in shares of Elong Power Holding Limited (NASDAQ:ELPW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 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 SEC filing. Hedge funds and other institutional investors own 88.31% of the company’s stock.

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.