Short Interest in Elevai Labs, Inc. (NASDAQ:ELAB) Grows By 438.9%

Elevai Labs, Inc. (NASDAQ:ELAB) saw a significant growth in short interest in 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 days-to-cover ratio is currently 0.2 days.

Institutional Trading of Elevai Labs

An institutional investor recently bought a new position in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Elevai Labs, Inc. (NASDAQ:ELAB) in the 2nd quarter, according to the company in its most recent disclosure 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 currently owned by hedge funds and other institutional investors.

Elevai Labs Price Performance

NASDAQ:ELAB traded up $0.03 during trading hours on Friday, reaching $2.44. 307,202 shares of the company were exchanged, compared to its average volume of 326,737. The business has a 50 day moving average of $5.92 and a 200 day moving average of $48.58. Elevai Labs has a 1-year low of $1.74 and a 1-year 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 market capitalization of $6.31 million and a P/E ratio of -0.04.

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.