Elong Power (NASDAQ:ELPW) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Elong Power (NASDAQ:ELPW) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Elong Power in a research report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Elong Power Price Performance

ELPW stock opened at $3.09 on Friday. The company’s 50 day moving average is $12.02 and its two-hundred day moving average is $159.20. Elong Power has a twelve month low of $3.01 and a twelve month high of $54,972.00.

Hedge Funds Weigh In On Elong Power

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. bought a new position in Elong Power Holding Limited (NASDAQ:ELPW) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 0.07% of Elong Power as of its most recent filing with the Securities and Exchange Commission. 88.31% of the stock is owned by hedge funds and other institutional investors.

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.