Short Interest in Elevai Labs, Inc. (NASDAQ:ELAB) Drops By 98.1%

Elevai Labs, Inc. (NASDAQ:ELAB) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 48,800 shares, a drop of 98.1% from the November 15th total of 2,620,000 shares. Based on an average trading volume of 816,600 shares, the short-interest ratio is currently 0.1 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. bought a new position in shares of Elevai Labs, Inc. (NASDAQ:ELAB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 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. 22.22% of the stock is currently owned by institutional investors.

Elevai Labs Price Performance

Shares of ELAB stock traded up $0.06 on Friday, hitting $2.29. 373,113 shares of the company’s stock were exchanged, compared to its average volume of 231,465. Elevai Labs has a 12 month low of $1.74 and a 12 month high of $778.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.86 and a quick ratio of 3.40. The company has a 50 day moving average of $9.23 and a 200 day moving average of $57.48. The stock has a market cap of $5.93 million and a P/E ratio of -0.04.

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.