Short Interest in Elong Power Holding Limited (NASDAQ:ELPW) Increases By 4,701.8%

Elong Power Holding Limited (NASDAQ:ELPW) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 447,428 shares, an increase of 4,701.8% from the January 15th total of 9,318 shares. Approximately 14.7% of the company’s shares are short sold. Based on an average trading volume of 3,390,063 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 3,390,063 shares, the short-interest ratio is currently 0.1 days. Approximately 14.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. bought a new stake in shares of Elong Power Holding Limited (NASDAQ:ELPW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned about 0.07% of Elong Power as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elong Power Stock Performance

Elong Power stock opened at $0.64 on Thursday. Elong Power has a 12-month low of $0.28 and a 12-month high of $129.20. The firm has a 50-day moving average price of $2.20 and a 200-day moving average price of $10.49.

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.