Elong Power (NASDAQ:ELPW) Upgraded to “Hold” at Wall Street Zen

Elong Power (NASDAQ:ELPW) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Elong Power Stock Up 1.1%

Shares of NASDAQ:ELPW opened at $0.3184 on Friday. Elong Power has a 1-year low of $0.26 and a 1-year high of $8.0750. The firm’s 50 day simple moving average is $2.24 and its two-hundred day simple moving average is $2.09.

Hedge Funds Weigh In On Elong Power

Large investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. purchased a new position in shares of Elong Power in the fourth quarter worth $33,000. Invesco Ltd. purchased a new position in shares of Elong Power in the second quarter worth $31,000. Finally, Toronto Dominion Bank purchased a new position in shares of Elong Power in the fourth quarter worth $102,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

Elong Power Company Profile

Elong Power Holding Ltd. engages in the research and development, manufacturing, sales and service of high-power lithium-ion batteries for electric vehicles and construction machinery, as well as large-capacity, long-cycle lithium-ion batteries for energy storage systems. The company was founded on August 18, 2023 and is headquartered in Ganzhou, China.