PMGC Holdings Inc. (NASDAQ:ELAB) Short Interest Down 45.6% in July

PMGC Holdings Inc. (NASDAQ:ELAB) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 440,372 shares, a drop of 45.6% from the July 15th total of 809,201 shares. Approximately 38.0% of the shares of the company are short sold. Based on an average daily trading volume, of 847,193 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of PMGC in a report on Friday, June 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

PMGC Stock Performance

Shares of NASDAQ:ELAB traded down $0.04 during trading hours on Monday, hitting $0.87. The stock had a trading volume of 141,551 shares, compared to its average volume of 4,198,639. The stock’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $3.92. PMGC has a 1-year low of $0.84 and a 1-year high of $309.12. The firm has a market capitalization of $1.01 million, a price-to-earnings ratio of -0.01 and a beta of -0.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.45.

PMGC (NASDAQ:ELAB) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.61) earnings per share for the quarter. The business had revenue of $1.31 million for the quarter. PMGC had a negative net margin of 522.92% and a negative return on equity of 140.68%.

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.