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

Elevai Labs, Inc. (NASDAQ:ELAB) was the recipient of a large increase in short interest in the month of 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 short-interest ratio is currently 0.1 days. Currently, 11.3% of the company’s stock are short sold.

Elevai Labs Trading Up 9.9 %

Shares of ELAB opened at $0.10 on Friday. Elevai Labs has a 12 month low of $0.08 and a 12 month high of $4.24. The stock’s 50-day moving average is $0.20 and its two-hundred day moving average is $0.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.05 and a quick ratio of 0.54. The stock has a market cap of $1.91 million and a PE ratio of -0.27.

Elevai Labs (NASDAQ:ELAB) last released its quarterly 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 for 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 stake in Elevai Labs, Inc. (NASDAQ:ELAB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 52,500 shares of the company’s stock, valued at approximately $36,000. Diversify Advisory Services LLC owned about 0.30% of Elevai Labs at the end of the most recent reporting period. 22.22% of the stock is owned by institutional investors and hedge funds.

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.