Eshallgo Inc. (NASDAQ:EHGO) Sees Large Decline in Short Interest

Eshallgo Inc. (NASDAQ:EHGO) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 83,060 shares, a drop of 52.9% from the July 30th total of 176,188 shares. Based on an average daily volume of 120,976 shares, the short-interest ratio is currently 0.7 days. Approximately 4.1% of the company’s shares are short sold.

Eshallgo Trading Down 1.8%

NASDAQ:EHGO traded down $0.02 during mid-day trading on Monday, reaching $1.10. The stock had a trading volume of 265,718 shares, compared to its average volume of 3,255,425. The business’s 50 day moving average is $2.07 and its 200 day moving average is $2.38. Eshallgo has a fifty-two week low of $1.07 and a fifty-two week high of $12.04.

Eshallgo (NASDAQ:EHGO) last posted its earnings results on Friday, July 31st. The company reported ($0.65) EPS for the quarter. The business had revenue of $4.26 million for the quarter.

Institutional Trading of Eshallgo

A hedge fund recently bought a new stake in Eshallgo stock. Yorkville Advisors Global LP acquired a new stake in shares of Eshallgo Inc. (NASDAQ:EHGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 272,500 shares of the company’s stock, valued at approximately $59,000. Eshallgo comprises about 0.0% of Yorkville Advisors Global LP’s portfolio, making the stock its 25th largest position. Yorkville Advisors Global LP owned 0.84% of Eshallgo as of its most recent filing with the Securities and Exchange Commission.

Analyst Ratings Changes

EHGO has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Eshallgo in a report on Wednesday, June 24th. Wall Street Zen upgraded Eshallgo from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About Eshallgo

Eshallgo Inc, through its subsidiaries, engages in the sale and leasing of office equipment and after-sale maintenance and repair services in the People’s Republic of China. The company also sells office furniture, IT products, water dispensers, printing papers, and other products, as well as provides maintenance services with enterprise resource planning systems. It serves private and public sector businesses, as well as large enterprises and institutions. The company was founded in 2015 and is based in Shanghai, China.