Elevai Labs (NASDAQ:ELAB) Reaches New 1-Year Low – What’s Next?

Elevai Labs, Inc. (NASDAQ:ELAB) hit a new 52-week low during trading on Wednesday . The company traded as low as $2.50 and last traded at $2.50, with a volume of 7810 shares trading hands. The stock had previously closed at $0.02.

Elevai Labs Price Performance

The stock has a market capitalization of $1.19 billion and a PE ratio of -7.69. The firm’s 50 day simple moving average is $0.08 and its 200 day simple moving average is $0.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.86 and a quick ratio of 3.40.

Institutional Trading of Elevai Labs

A hedge fund recently bought a new stake in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Elevai Labs, Inc. (NASDAQ:ELAB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 quarter. Institutional investors own 22.22% of the company’s stock.

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.