Short Interest in PMGC Holdings Inc. (NASDAQ:ELAB) Drops By 39.6%

PMGC Holdings Inc. (NASDAQ:ELAB) was the recipient of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 265,900 shares, a decline of 39.6% from the July 30th total of 440,372 shares. Based on an average daily volume of 216,457 shares, the short-interest ratio is currently 1.2 days. Currently, 32.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PMGC in a research note on Friday, June 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, PMGC has a consensus rating of “Sell”.

PMGC Stock Performance

NASDAQ ELAB traded down $0.16 on Tuesday, reaching $5.03. The stock had a trading volume of 53,742 shares, compared to its average volume of 398,265. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.36 and a quick ratio of 1.30. The firm has a fifty day moving average of $9.61 and a two-hundred day moving average of $27.97. PMGC has a 1-year low of $5.03 and a 1-year high of $2,671.20. The company has a market cap of $4.07 million, a P/E ratio of -0.00 and a beta of -0.25.

About PMGC

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.