Elevai Labs (NASDAQ:ELAB) Reaches New 52-Week Low – Here’s Why

Elevai Labs, Inc. (NASDAQ:ELAB) hit a new 52-week low on Wednesday . The company traded as low as $2.50 and last traded at $2.50, with a volume of 7810 shares changing hands. The stock had previously closed at $0.02.

Elevai Labs Stock Down 3.6 %

The company has a market cap of $1.25 billion and a P/E ratio of -7.77. The stock has a 50-day moving average of $0.12 and a two-hundred day moving average of $0.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.40 and a current ratio of 3.86.

Institutional Investors Weigh In On Elevai Labs

An institutional investor recently bought a new position in Elevai Labs stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Elevai Labs, Inc. (NASDAQ:ELAB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 institutional investors.

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.