Elong Power Holding Limited (NASDAQ:ELPW) Short Interest Down 77.7% in December

Elong Power Holding Limited (NASDAQ:ELPW) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 17,319 shares, a decline of 77.7% from the December 15th total of 77,592 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 86,464 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 86,464 shares, the short-interest ratio is presently 0.2 days. Approximately 0.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

ELPW has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a report on Wednesday, October 8th. Wall Street Zen upgraded Elong Power to a “hold” rating in a report on Saturday, October 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Elong Power stock. Invesco Ltd. purchased a new stake in shares of Elong Power Holding Limited (NASDAQ:ELPW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned about 0.07% of Elong Power at the end of the most recent reporting period. 88.31% of the stock is owned by hedge funds and other institutional investors.

Elong Power Price Performance

ELPW stock traded down $0.10 during midday trading on Tuesday, hitting $2.02. 78,295 shares of the company’s stock were exchanged, compared to its average volume of 75,325. Elong Power has a 1-year low of $1.73 and a 1-year high of $129.20. The business has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $14.59.

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.