Elevai Labs, Inc. (NASDAQ:ELAB) Short Interest Update

Elevai Labs, Inc. (NASDAQ:ELAB) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 1,870,000 shares, an increase of 172.4% from the September 30th total of 686,400 shares. Based on an average daily volume of 16,300,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 11.3% of the company’s shares are sold short.

Elevai Labs Trading Up 9.9 %

ELAB stock traded up $0.01 during midday trading on Friday, reaching $0.10. 398,700,508 shares of the company’s stock traded hands, compared to its average volume of 42,619,560. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.05 and a quick ratio of 0.54. Elevai Labs has a fifty-two week low of $0.08 and a fifty-two week high of $4.24. The business has a 50-day moving average price of $0.20 and a two-hundred day moving average price of $0.44. The company has a market capitalization of $2.11 million and a P/E ratio of -0.32.

Elevai Labs (NASDAQ:ELAB) last posted its earnings results on Wednesday, August 14th. The company reported ($0.08) earnings per share for the quarter. Elevai Labs had a negative net margin of 191.96% and a negative return on equity of 216.19%. The business had revenue of $0.61 million for the quarter.

Institutional Investors Weigh In On Elevai Labs

A hedge fund recently bought a new stake in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. purchased a new position in Elevai Labs, Inc. (NASDAQ:ELAB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 80,666 shares of the company’s stock, valued at approximately $47,000. Whittier Trust Co. of Nevada Inc. owned 0.43% of Elevai Labs as of its most recent SEC filing. Hedge funds and other institutional investors own 22.22% of the company’s stock.

Elevai Labs Company Profile

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.