Elong Power Holding Limited (NASDAQ:ELPW) Short Interest Update

Elong Power Holding Limited (NASDAQ:ELPW) saw a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 301,918 shares, a drop of 61.9% from the May 14th total of 793,279 shares. Approximately 48.5% of the company’s shares are short sold. Based on an average daily volume of 1,129,891 shares, the days-to-cover ratio is currently 0.3 days.

Elong Power Stock Performance

Shares of NASDAQ:ELPW traded down $0.10 during mid-day trading on Friday, reaching $1.07. The stock had a trading volume of 1,965,146 shares, compared to its average volume of 8,290,550. The firm has a 50 day simple moving average of $2.16 and a two-hundred day simple moving average of $83.11. Elong Power has a twelve month low of $0.66 and a twelve month high of $5,696.00.

Elong Power (NASDAQ:ELPW) last announced its quarterly earnings results on Monday, April 20th. The company reported ($71.57) earnings per share for the quarter. The company had revenue of $0.92 million for the quarter.

Institutional Trading of Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. bought a new position 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 bought 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 0.07% of Elong Power as of its most recent filing with the SEC. Institutional investors and hedge funds own 88.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ELPW shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a research note on Friday, April 24th. Wall Street Zen raised shares of Elong Power to a “hold” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Elong Power presently has a consensus rating of “Sell”.

About Elong Power

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.