Elong Power Holding Limited (NASDAQ:ELPW) Shares Shorted: Short Interest Up 569.0% in September

Elong Power Holding Limited (NASDAQ:ELPW) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 62,884 shares, a growth of 569.0% from the September 15th total of 9,400 shares. Based on an average daily volume of 824,970 shares, the days-to-cover ratio is currently 0.1 days. Approximately 54.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ELPW. Wall Street Zen lowered Elong Power from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. Weiss Ratings downgraded Elong Power from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Elong Power Price Performance

Shares of ELPW traded up $0.09 during trading on Friday, reaching $2.71. 31,633 shares of the company traded hands, compared to its average volume of 485,202. The stock has a 50-day simple moving average of $3.50 and a 200-day simple moving average of $47.17. Elong Power has a twelve month low of $2.42 and a twelve month high of $54,972.00.

Elong Power (NASDAQ:ELPW) last issued its quarterly earnings data on Tuesday, October 6th. The company reported $205.69 EPS for the quarter. The company had revenue of $1.45 million during the quarter.

Elong Power Company Profile

Elong Power Holding Limited is a China-based battery technology company focused on the development, manufacture and sale of lithium-ion batteries and related battery systems. The company operates through subsidiaries and serves markets that require rechargeable energy-storage solutions.

Its product offerings include lithium-ion battery cells, modules and battery packs, which may be used in electric vehicles, energy-storage systems and other applications requiring portable or stationary power.