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

Elevai Labs, Inc. (NASDAQ:ELAB) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,870,000 shares, an increase of 172.4% from the September 30th total of 686,400 shares. Based on an average daily volume of 16,300,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 11.3% of the company’s shares are short sold.

Elevai Labs Trading Up 9.9 %

Shares of NASDAQ ELAB opened at $0.10 on Monday. Elevai Labs has a twelve month low of $0.08 and a twelve month high of $4.24. The firm has a market cap of $1.91 million and a PE ratio of -0.27. The business has a fifty day simple moving average of $0.20 and a two-hundred day simple moving average of $0.44. 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 released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.08) earnings per share for the quarter. Elevai Labs had a negative net margin of 191.96% and a negative return on equity of 216.19%. The firm had revenue of $0.61 million during the quarter.

Institutional Investors Weigh In On Elevai Labs

A hedge fund recently bought a new stake in Elevai Labs stock. Diversify Advisory Services LLC acquired a new position in Elevai Labs, Inc. (NASDAQ:ELAB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 52,500 shares of the company’s stock, valued at approximately $36,000. Diversify Advisory Services LLC owned approximately 0.30% of Elevai Labs as of its most recent SEC filing. Hedge funds and other 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.