Elong Power (NASDAQ:ELPW) Lowered to Sell Rating by Wall Street Zen

Elong Power (NASDAQ:ELPW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Elong Power Stock Performance

Shares of ELPW stock traded up $0.05 on Friday, reaching $2.17. 1,326,487 shares of the stock were exchanged, compared to its average volume of 645,339. The business's 50 day moving average price is $2.57 and its 200 day moving average price is $1.75. Elong Power has a twelve month low of $0.56 and a twelve month high of $8.07.

Institutional Investors Weigh In On Elong Power

Several institutional investors and hedge funds have recently bought and sold shares of the business. Polar Asset Management Partners Inc. bought a new position in Elong Power during the 4th quarter valued at about $33,000. Yakira Capital Management Inc. bought a new position in shares of Elong Power in the fourth quarter worth about $39,000. Finally, Toronto Dominion Bank bought a new position in shares of Elong Power in the fourth quarter worth about $102,000. Institutional investors and hedge funds own 88.31% of the company's stock.

About Elong Power

Elong Power Holding Ltd. engages in the research and development, manufacturing, sales and service of high-power lithium-ion batteries for electric vehicles and construction machinery, as well as large-capacity, long-cycle lithium-ion batteries for energy storage systems. The company was founded on August 18, 2023 and is headquartered in Ganzhou, China.