Elong Power Holding Limited (NASDAQ:ELPW) Sees Significant Increase in Short Interest

Elong Power Holding Limited (NASDAQ:ELPW) was the recipient of a large increase in short interest in October. As of October 30th, there was short interest totaling 334,307 shares, an increase of 474.9% from the October 15th total of 58,148 shares. Based on an average trading volume of 3,654,802 shares, the days-to-cover ratio is presently 0.1 days. Approximately 288.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

ELPW has been the subject of several analyst reports. Weiss Ratings upgraded shares of Elong Power from a “sell (e)” rating to a “sell (d)” rating in a research note on Tuesday, October 13th. Wall Street Zen cut Elong Power from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

Elong Power Stock Up 1.3%

ELPW traded up $0.01 during midday trading on Wednesday, reaching $1.01. The company had a trading volume of 137,277 shares, compared to its average volume of 768,430. Elong Power has a 12-month low of $0.96 and a 12-month high of $54,972.00. The business has a 50-day moving average price of $2.58 and a two-hundred day moving average price of $626.41.

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

About Elong Power

Elong Power Holding Limited is a battery technology company focused on the development and manufacture of lithium-ion battery products. Through its operating subsidiaries, the company serves applications associated with electric mobility, energy storage and other uses that require rechargeable power solutions. Its product offerings include lithium-ion battery cells, battery modules and battery packs, as well as related battery-system solutions. These products are intended for use in areas such as electric vehicles, energy-storage systems, power tools and other equipment requiring portable or stationary electrical power.