Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Declines By 49.5%

Elong Power Holding Limited (NASDAQ:ELPW) saw a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 631,095 shares, a decline of 49.5% from the February 12th total of 1,250,328 shares. Based on an average daily volume of 13,543,923 shares, the days-to-cover ratio is presently 0.0 days. Approximately 20.8% of the shares of the company are short sold. Approximately 20.8% of the shares of the company are short sold. Based on an average daily volume of 13,543,923 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Elong Power in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Elong Power Stock Performance

Shares of NASDAQ ELPW traded down $0.59 during trading hours on Thursday, reaching $3.59. 2,439,231 shares of the stock traded hands, compared to its average volume of 80,410,008. The company’s 50-day simple moving average is $96.48 and its two-hundred day simple moving average is $265.59. Elong Power has a 52-week low of $3.06 and a 52-week high of $10,336.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. acquired a new stake in shares of Elong Power Holding Limited (NASDAQ:ELPW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 0.07% of Elong Power at the end of the most recent reporting period. 88.31% of the stock is owned by institutional investors and hedge funds.

Elong Power Company Profile

Elong Power (NASDAQ: ELPW) is a China-based designer, manufacturer and distributor of high- and medium-voltage electrical equipment used in power transmission and distribution networks. The company’s product portfolio includes gas-insulated switchgear (GIS), metal-enclosed switchgear, load break switches, ring main units (RMUs) and power distribution cabinets, as well as related control and protection systems. Elong Power’s equipment is engineered to facilitate safe and efficient delivery of electricity across urban and rural networks.

In addition to core switchgear products, Elong Power provides turnkey solutions that encompass system design, installation, commissioning and after-sales maintenance.