PMGC Holdings Inc. (NASDAQ:ELAB) Sees Significant Growth in Short Interest

PMGC Holdings Inc. (NASDAQ:ELAB) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 809,201 shares, an increase of 144.4% from the June 30th total of 331,075 shares. Approximately 69.8% of the shares of the company are sold short. Based on an average daily trading volume, of 10,484,044 shares, the short-interest ratio is currently 0.1 days.

PMGC Trading Down 5.2%

NASDAQ ELAB traded down $0.05 during mid-day trading on Wednesday, reaching $0.90. 166,200 shares of the stock were exchanged, compared to its average volume of 4,558,437. The stock has a market capitalization of $1.04 million, a PE ratio of -0.01 and a beta of -0.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 1.45. PMGC has a 1-year low of $0.84 and a 1-year high of $309.12. The business’s fifty day simple moving average is $1.35 and its 200 day simple moving average is $5.99.

PMGC (NASDAQ:ELAB) last released its earnings results on Thursday, May 14th. The company reported ($11.22) EPS for the quarter. The company had revenue of $0.68 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PMGC in a research note on Friday, June 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, PMGC has an average rating of “Sell”.

About PMGC

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. Elevai Labs, Inc was incorporated in 2020 and is based in Newport Beach, California.