Eastern International Ltd. (NASDAQ:ELOG) Stock Short Interest Jumps 1,878.6%

Eastern International Ltd. (NASDAQ:ELOG) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 82,724 shares, a growth of 1,878.6% from the August 31st total of 4,181 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily volume of 1,100,768 shares, the days-to-cover ratio is presently 0.1 days.

Insiders Place Their Bets

In other news, CEO Albert Wong purchased 200,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $1.00 per share, with a total value of $200,000.00. Following the acquisition, the chief executive officer owned 200,000 shares in the company, valued at approximately $200,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Eastern International Stock Down 2.0%

Shares of ELOG opened at $0.48 on Friday. The business’s 50 day moving average is $0.74 and its two-hundred day moving average is $0.87. Eastern International has a 52-week low of $0.40 and a 52-week high of $3.07.

Eastern International (NASDAQ:ELOG) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $9.22 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Eastern International from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Eastern International Company Profile

Eastern International Ltd. is a provider of domestic and cross-border professional logistic services including project logistic and general logistic. Eastern International Ltd. is based in Hangzhou, China.