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

PMGC Holdings Inc. (NASDAQ:ELAB) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 440,372 shares, a drop of 45.6% from the July 15th total of 809,201 shares. Approximately 38.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 847,193 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of PMGC in a research report on Friday, June 26th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, PMGC has a consensus rating of “Sell”.

PMGC Price Performance

NASDAQ ELAB traded down $0.04 on Monday, reaching $0.87. 141,551 shares of the stock traded hands, compared to its average volume of 4,198,639. The firm’s fifty day simple moving average is $1.14 and its 200 day simple moving average is $3.92. The company has a quick ratio of 1.43, a current ratio of 1.45 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.01 million, a price-to-earnings ratio of -0.01 and a beta of -0.25. PMGC has a 12 month low of $0.84 and a 12 month high of $309.12.

PMGC (NASDAQ:ELAB) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.61) earnings per share (EPS) for the quarter. PMGC had a negative net margin of 522.92% and a negative return on equity of 140.68%. The firm had revenue of $1.31 million for the quarter.

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.