Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Rises By 133.0%

Elong Power Holding Limited (NASDAQ:ELPW) was the recipient of a large growth in short interest in 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. Approximately 112.9% of the shares of the company are sold short. Based on an average daily volume of 13,280,048 shares, the short-interest ratio is currently 0.1 days.

Elong Power Price Performance

NASDAQ:ELPW traded up $0.10 during trading hours on Monday, hitting $1.00. 283,312 shares of the stock traded hands, compared to its average volume of 3,881,524. Elong Power has a 1 year low of $0.66 and a 1 year high of $5,696.00. The stock has a 50 day moving average price of $1.99 and a 200 day moving average price of $62.72.

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

Institutional Investors Weigh In On Elong Power

An institutional investor recently bought a new stake in Elong Power stock. Invesco Ltd. purchased a new position in Elong Power Holding Limited (NASDAQ:ELPW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission. 88.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ELPW has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elong Power in a research report on Friday, April 24th. Wall Street Zen upgraded Elong Power to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.