Elong Power (NASDAQ:ELPW) Stock Rating Lowered by Wall Street Zen

Elong Power (NASDAQ:ELPW) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a report on Friday, April 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Elong Power Stock Down 47.0%

NASDAQ:ELPW traded down $0.27 during mid-day trading on Friday, hitting $0.30. The stock had a trading volume of 91,343,111 shares, compared to its average volume of 3,540,573. Elong Power has a twelve month low of $0.28 and a twelve month high of $5,696.00. The stock has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $46.21.

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

Institutional Inflows and Outflows

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