Elevai Labs (NASDAQ:ELAB) Stock Price Up 54.9% – Here’s Why

Elevai Labs, Inc. (NASDAQ:ELAB) was up 54.9% during mid-day trading on Thursday . The stock traded as high as $0.18 and last traded at $0.13. Approximately 513,388,229 shares traded hands during mid-day trading, an increase of 10,484% from the average daily volume of 4,850,780 shares. The stock had previously closed at $0.09.

Elevai Labs Price Performance

The stock has a market cap of $2.49 million and a P/E ratio of -0.36. The company’s 50 day moving average price is $0.29 and its 200-day moving average price is $0.51. 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 posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $0.61 million during the quarter. Elevai Labs had a negative net margin of 191.96% and a negative return on equity of 216.19%.

Institutional Trading of Elevai Labs

An institutional investor recently bought a new position in Elevai Labs stock. Diversify Advisory Services LLC purchased a new position in Elevai Labs, Inc. (NASDAQ:ELAB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 52,500 shares of the company’s stock, valued at approximately $36,000. Diversify Advisory Services LLC owned 0.30% of Elevai Labs as of its most recent filing with the Securities and Exchange Commission. 22.22% of the stock is owned by hedge funds and other 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.