Elevai Labs, Inc. (NASDAQ:ELAB) Sees Large Growth in Short Interest

Posted by Stephan Jacobs on Sep 14th, 2024

Elevai Labs, Inc. (NASDAQ:ELAB – Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 868,700 shares, an increase of 859.9% from the August 15th total of 90,500 shares. Based on an average daily volume of 2,120,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 11.4% of the company’s stock are short sold.

Elevai Labs Stock Performance

Elevai Labs stock opened at $0.35 on Friday. Elevai Labs has a twelve month low of $0.22 and a twelve month high of $4.24. The company has a quick ratio of 0.54, a current ratio of 1.05 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $7.28 million and a P/E ratio of -0.95. The stock’s 50 day moving average is $0.38 and its 200 day moving average is $0.56.

Elevai Labs (NASDAQ:ELAB – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.08) EPS for the quarter. Elevai Labs had a negative return on equity of 216.19% and a negative net margin of 191.96%. The company had revenue of $0.61 million during the quarter.

Institutional Investors Weigh In On Elevai Labs

A hedge fund recently bought a new stake in Elevai Labs stock. Diversify Advisory Services LLC acquired a new position in Elevai Labs, Inc. (NASDAQ:ELAB – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 52,500 shares of the company’s stock, valued at approximately $36,000. Diversify Advisory Services LLC owned approximately 0.30% of Elevai Labs as of its most recent filing with the Securities and Exchange Commission. 22.22% of the stock is currently owned by institutional investors and hedge funds.

Elevai Labs Company Profile

(Get Free Report)

Elevai Labs, Inc, a skincare development company, designs, manufactures, and markets skincare products. Its products include Empower and Enfinity post-skincare procedure care serums for the face, neck, and upper chest regions. The company was formerly known as Reactive Medical Labs Inc and changed its name to Elevai Labs, Inc in December 2021.