Elong Power Holding Limited (NASDAQ:ELPW) Sees Large Drop in Short Interest

Elong Power Holding Limited (NASDAQ:ELPW) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 38,048 shares, a decrease of 96.3% from the July 30th total of 1,036,463 shares. Currently, 32.8% of the company’s stock are sold short. Based on an average daily trading volume, of 2,149,143 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a research note on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Elong Power Price Performance

NASDAQ:ELPW traded down $0.09 during mid-day trading on Wednesday, reaching $4.01. 39,560 shares of the company’s stock were exchanged, compared to its average volume of 267,282. Elong Power has a one year low of $3.48 and a one year high of $54,972.00. The business’s fifty day simple moving average is $19.18 and its two-hundred day simple moving average is $368.24.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Elong Power stock. Invesco Ltd. acquired a new stake in Elong Power Holding Limited (NASDAQ:ELPW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 0.07% of Elong Power at the end of the most recent reporting period. Institutional investors and hedge funds own 88.31% of the company’s stock.

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.