Elevai Labs, Inc. (NASDAQ:ELAB) Short Interest Down 72.2% in November

Elevai Labs, Inc. (NASDAQ:ELAB) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 2,620,000 shares, a decrease of 72.2% from the October 31st total of 9,420,000 shares. Approximately 6.7% of the shares of the stock are sold short. Based on an average daily volume of 131,660,000 shares, the short-interest ratio is presently 0.0 days.

Elevai Labs Price Performance

Elevai Labs stock traded down $0.09 during mid-day trading on Wednesday, hitting $2.41. 902,115 shares of the company were exchanged, compared to its average volume of 194,689. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.86 and a quick ratio of 3.40. Elevai Labs has a 12-month low of $2.05 and a 12-month high of $840.00. The business’s 50 day simple moving average is $0.08 and its two-hundred day simple moving average is $0.34. The company has a market capitalization of $1.25 billion and a P/E ratio of -7.69.

Hedge Funds Weigh In On Elevai Labs

A hedge fund recently bought a new stake in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Elevai Labs, Inc. (NASDAQ:ELAB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 80,666 shares of the company’s stock, valued at approximately $47,000. Whittier Trust Co. of Nevada Inc. owned 0.43% of Elevai Labs at the end of the most recent quarter. Institutional investors own 22.22% of the company’s stock.

Elevai Labs Company Profile

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.