Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Declines By 77.7%
by Kim Johansen · The Markets DailyElong Power Holding Limited (NASDAQ:ELPW – Get Free Report) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 17,319 shares, a drop of 77.7% from the December 15th total of 77,592 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 86,464 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 86,464 shares, the short-interest ratio is presently 0.2 days. Approximately 0.6% of the shares of the stock are sold short.
Elong Power Price Performance
Elong Power stock traded up $0.13 during midday trading on Wednesday, reaching $2.08. The stock had a trading volume of 9,377 shares, compared to its average volume of 69,879. The stock’s 50-day simple moving average is $2.94 and its 200 day simple moving average is $14.50. Elong Power has a twelve month low of $1.73 and a twelve month high of $129.20.
Analyst Upgrades and Downgrades
ELPW has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Elong Power to a “hold” rating in a research report on Saturday, October 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.
Get Our Latest Research Report on Elong Power
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. purchased a new stake in shares of Elong Power Holding Limited (NASDAQ:ELPW – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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. 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.