Elevai Labs, Inc. (NASDAQ:ELAB) Short Interest Up 438.9% in December

Elevai Labs, Inc. (NASDAQ:ELAB) was the target of a significant growth in short interest during the month of 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 daily volume of 1,220,000 shares, the short-interest ratio is presently 0.2 days.

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 position in Elevai Labs, Inc. (NASDAQ:ELAB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 80,666 shares of the company’s stock, valued at approximately $47,000. Whittier Trust Co. of Nevada Inc. owned about 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 Stock Performance

Shares of ELAB traded up $0.03 during mid-day trading on Friday, hitting $2.44. The stock had a trading volume of 305,317 shares, compared to its average volume of 326,730. Elevai Labs has a fifty-two week low of $1.74 and a fifty-two week high of $778.00. 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 cap of $6.31 million and a PE ratio of -0.04. The company’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $49.43.

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.