Eshallgo Inc. (NASDAQ:EHGO) Sees Significant Decline in Short Interest

Eshallgo Inc. (NASDAQ:EHGO) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 20,329 shares, a drop of 85.8% from the October 15th total of 143,618 shares. Approximately 5.0% of the company’s stock are sold short. Based on an average trading volume of 61,444 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Eshallgo in a report on Monday, September 21st. Wall Street Zen cut shares of Eshallgo from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Eshallgo Price Performance

Shares of NASDAQ EHGO traded up $0.01 during mid-day trading on Friday, hitting $1.65. The stock had a trading volume of 20,879 shares, compared to its average volume of 630,958. The company has a 50 day moving average of $3.35 and a two-hundred day moving average of $9.92. Eshallgo has a twelve month low of $1.50 and a twelve month high of $33.75.

About Eshallgo

Eshallgo Limited is a China-based provider of office-supply products and related services. The company focuses on helping organizations procure and manage everyday workplace needs through an integrated business-to-business platform. Its offerings include office stationery, consumables, equipment, furniture and other workplace products. Eshallgo also provides related supply-chain services, such as sourcing, warehousing, order fulfillment and distribution, to support corporate and institutional customers.