Short Interest in Elevai Labs, Inc. (NASDAQ:ELAB) Increases By 403.7%

Elevai Labs, Inc. (NASDAQ:ELAB) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,420,000 shares, a growth of 403.7% from the October 15th total of 1,870,000 shares. Currently, 56.8% of the company’s shares are short sold. Based on an average trading volume of 57,660,000 shares, the short-interest ratio is presently 0.2 days.

Elevai Labs Trading Up 31.4 %

Shares of NASDAQ:ELAB traded up $0.01 during trading hours on Wednesday, hitting $0.02. 493,897,554 shares of the company’s stock traded hands, compared to its average volume of 20,248,277. The business has a fifty day moving average price of $0.14 and a 200-day moving average price of $0.39. Elevai Labs has a 1 year low of $0.02 and a 1 year 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.

Elevai Labs (NASDAQ:ELAB) last released its earnings results on Wednesday, August 14th. The company reported ($0.08) EPS for the quarter. The business 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%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Elevai Labs, Inc. (NASDAQ:ELAB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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. 22.22% of the stock is currently owned by institutional investors.

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.