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

Elong Power (NASDAQ:ELPW) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elong Power in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Elong Power presently has a consensus rating of “Sell”.

Elong Power Price Performance

ELPW stock opened at $3.09 on Friday. Elong Power has a 12 month low of $3.01 and a 12 month high of $54,972.00. The firm has a 50 day simple moving average of $12.86 and a 200 day simple moving average of $160.30.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Elong Power stock. Invesco Ltd. purchased a new stake in shares of Elong Power Holding Limited (NASDAQ:ELPW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,808 shares of the company’s stock, valued at approximately $31,000. Invesco Ltd. owned 0.07% of Elong Power at the end of the most recent reporting period. Institutional investors and hedge funds own 88.31% of the company’s stock.

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.