Short Interest in Elevai Labs, Inc. (NASDAQ:ELAB) Expands By 438.9%

Elevai Labs, Inc. (NASDAQ:ELAB) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 263,000 shares, an increase of 438.9% from the November 30th total of 48,800 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Elevai Labs

A hedge fund recently bought a new stake in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Elevai Labs, Inc. (NASDAQ:ELAB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 22.22% of the company’s stock.

Elevai Labs Price Performance

ELAB stock traded up $0.03 on Friday, reaching $2.44. 305,317 shares of the company’s stock were exchanged, compared to its average volume of 326,730. The firm has a market cap of $6.31 million and a PE ratio of -0.04. Elevai Labs has a twelve month low of $1.74 and a twelve month high of $778.00. The stock has a fifty day moving average of $6.24 and a 200-day moving average of $49.43. The company has a quick ratio of 3.40, a current ratio of 3.86 and a debt-to-equity ratio of 0.06.

About Elevai Labs

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.