Elevai Labs, Inc. (NASDAQ:ELAB) Short Interest Up 403.7% in October

Elevai Labs, Inc. (NASDAQ:ELAB) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 9,420,000 shares, an increase of 403.7% from the October 15th total of 1,870,000 shares. Based on an average daily trading volume, of 57,660,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 56.8% of the shares of the stock are short sold.

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 filing with the Securities & Exchange Commission. 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 Stock Performance

Shares of Elevai Labs stock remained flat at $0.02 during midday trading on Tuesday. 147,952,278 shares of the company were exchanged, compared to its average volume of 18,329,752. The company’s fifty day moving average is $0.14 and its two-hundred day moving average is $0.39. Elevai Labs has a fifty-two week low of $0.02 and a fifty-two week 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 firm has a market cap of $389,053.50 and a P/E ratio of -0.06.

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

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.