Eshallgo Inc. (NASDAQ:EHGO) Short Interest Down 52.9% in August

Eshallgo Inc. (NASDAQ:EHGO) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 83,060 shares, a decline of 52.9% from the July 30th total of 176,188 shares. Approximately 4.1% of the company’s stock are sold short. Based on an average trading volume of 120,976 shares, the days-to-cover ratio is currently 0.7 days.

Eshallgo Stock Performance

Shares of EHGO traded down $0.06 during midday trading on Friday, reaching $1.12. The stock had a trading volume of 201,286 shares, compared to its average volume of 3,202,178. The firm has a 50 day simple moving average of $2.07 and a 200-day simple moving average of $2.38. Eshallgo has a one year low of $1.07 and a one year high of $12.04.

Eshallgo (NASDAQ:EHGO) last issued its earnings results on Friday, July 31st. The company reported ($0.65) earnings per share (EPS) for the quarter. The firm had revenue of $4.26 million for the quarter.

Institutional Trading of Eshallgo

A hedge fund recently bought a new position in Eshallgo stock. Yorkville Advisors Global LP bought a new position in shares of Eshallgo Inc. (NASDAQ:EHGO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 272,500 shares of the company’s stock, valued at approximately $59,000. Eshallgo accounts for approximately 0.0% of Yorkville Advisors Global LP’s portfolio, making the stock its 25th biggest holding. Yorkville Advisors Global LP owned approximately 0.84% of Eshallgo as of its most recent SEC filing.

Analysts Set New Price Targets

Several brokerages recently commented on EHGO. Weiss Ratings reissued a “sell (e+)” rating on shares of Eshallgo in a research report on Wednesday, June 24th. Wall Street Zen raised Eshallgo from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

About Eshallgo

Eshallgo Inc, through its subsidiaries, engages in the sale and leasing of office equipment and after-sale maintenance and repair services in the People’s Republic of China. The company also sells office furniture, IT products, water dispensers, printing papers, and other products, as well as provides maintenance services with enterprise resource planning systems. It serves private and public sector businesses, as well as large enterprises and institutions. The company was founded in 2015 and is based in Shanghai, China.