Elong Power Holding Limited (NASDAQ:ELPW) Sees Significant Decrease in Short Interest
by Teresa Graham · The Cerbat GemElong Power Holding Limited (NASDAQ:ELPW – Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 44,781 shares, a decline of 85.3% from the March 15th total of 304,729 shares. Based on an average daily trading volume, of 323,106 shares, the short-interest ratio is presently 0.1 days. Approximately 7.2% of the company’s stock are sold short.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. bought a new position in shares of Elong Power Holding Limited (NASDAQ:ELPW – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 SEC. 88.31% of the stock is currently owned by institutional investors and hedge funds.
Elong Power Trading Down 2.1%
Elong Power stock traded down $0.04 during midday trading on Friday, reaching $1.91. 219,550 shares of the company’s stock were exchanged, compared to its average volume of 1,152,934. The stock’s 50-day simple moving average is $46.62 and its 200 day simple moving average is $212.99. Elong Power has a 52 week low of $1.38 and a 52 week high of $10,336.00.
Wall Street Analysts Forecast Growth
ELPW has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Elong Power in a research note on Wednesday, January 21st. Wall Street Zen upgraded Elong Power to a “hold” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Elong Power currently has a consensus rating of “Sell”.
Check Out Our Latest Research Report on Elong Power
Elong Power Company Profile
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.