Short Interest in PMGC Holdings Inc. (NASDAQ:ELAB) Decreases By 52.0%

PMGC Holdings Inc. (NASDAQ:ELAB) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 39,049 shares, a decline of 52.0% from the December 31st total of 81,359 shares. Approximately 7.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,203,127 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily trading volume, of 1,203,127 shares, the days-to-cover ratio is presently 0.0 days. Approximately 7.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts have issued reports on ELAB shares. Wall Street Zen upgraded shares of PMGC to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PMGC in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

PMGC Stock Performance

NASDAQ ELAB traded up $0.18 on Friday, reaching $3.51. 734,074 shares of the stock traded hands, compared to its average volume of 751,101. PMGC has a 12 month low of $3.03 and a 12 month high of $189.14. The company has a fifty day moving average price of $10.14 and a 200-day moving average price of $19.77. The company has a market cap of $1.76 million, a price-to-earnings ratio of -0.05 and a beta of 0.67.

PMGC (NASDAQ:ELAB) last issued its earnings results on Friday, November 14th. The company reported ($19.80) earnings per share (EPS) for the quarter. The company had revenue of $0.29 million during the quarter.

PMGC Company Profile

Elevai Labs, Inc, a skincare development company, designs, manufactures, and markets skincare products. Its products include Empower and Enfinity post-skincare procedure care serums for the face, neck, and upper chest regions. The company was formerly known as Reactive Medical Labs Inc and changed its name to Elevai Labs, Inc in December 2021. Elevai Labs, Inc was incorporated in 2020 and is based in Newport Beach, California.