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

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

Hedge Funds Weigh In On Elevai Labs

An institutional investor recently bought a new position in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in Elevai Labs, Inc. (NASDAQ:ELAB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 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 own 22.22% of the company’s stock.

Elevai Labs Stock Up 2.6 %

ELAB traded up $0.06 during trading on Thursday, hitting $2.41. The company had a trading volume of 423,713 shares, compared to its average volume of 326,756. The company has a quick ratio of 3.40, a current ratio of 3.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6.24 million and a PE ratio of -0.04. The firm’s 50-day moving average price is $6.24 and its 200 day moving average price is $49.43. Elevai Labs has a one year low of $1.74 and a one year high of $778.00.

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.