Elevai Labs (NASDAQ:ELAB) Trading Down 10.2% – What’s Next?

Elevai Labs, Inc. (NASDAQ:ELAB) shares fell 10.2% during mid-day trading on Wednesday . The stock traded as low as $2.10 and last traded at $2.12. 66,658 shares were traded during trading, a decline of 74% from the average session volume of 258,042 shares. The stock had previously closed at $2.36.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Elevai Labs from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Elevai Labs Stock Down 10.2%

The firm has a 50-day simple moving average of $3.08 and a 200 day simple moving average of $10.70. The company has a market capitalization of $2.92 million, a PE ratio of -0.03 and a beta of -0.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.86 and a quick ratio of 3.40.

Elevai Labs (NASDAQ:ELAB) last posted its earnings results on Wednesday, May 14th. The company reported ($2.90) earnings per share (EPS) for the quarter. Elevai Labs had a negative net margin of 223.41% and a negative return on equity of 124.93%.

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.