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

Elevai Labs, Inc. (NASDAQ:ELAB) was the recipient of 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 daily trading volume, of 1,220,000 shares, the short-interest ratio is currently 0.2 days.

Institutional Investors Weigh In On Elevai Labs

A hedge fund recently bought a new stake 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 its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing. 22.22% of the stock is owned by hedge funds and other institutional investors.

Elevai Labs Price Performance

Shares of NASDAQ ELAB traded up $0.06 during midday trading on Thursday, reaching $2.41. 423,713 shares of the company were exchanged, compared to its average volume of 326,756. The stock’s 50-day moving average price is $6.24 and its 200-day moving average price is $49.43. The stock has a market cap of $6.24 million and a P/E ratio of -0.04. The company has a quick ratio of 3.40, a current ratio of 3.86 and a debt-to-equity ratio of 0.06. Elevai Labs has a one year low of $1.74 and a one year high of $778.00.

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.