Intelligent Living Application Group Inc. (NASDAQ:ILAG) experienced a notable increase in short interest during February 2024. As of February 13, the total short interest reached 19,248 shares, reflecting a dramatic rise of 175.8% from the January 29 figure of 6,980 shares. This surge indicates that roughly 1.9% of the company’s total shares are currently sold short.
The current trading environment has led to a days-to-cover ratio of approximately 1.1 days, based on an average daily trading volume of 17,014 shares. This metric is essential for investors assessing the liquidity and potential volatility surrounding the stock.
Stock Performance and Financial Overview
On Friday, Intelligent Living Application Group’s stock saw a modest increase of $0.05, closing at $2.65. The trading volume for the day was significantly lower than its average, with only 3,509 shares changing hands compared to the typical volume of 69,730 shares. The company’s current price remains below its 50-day moving average of $3.36 and its 200-day moving average of $4.76.
Financially, Intelligent Living Application Group reported a debt-to-equity ratio of 0.02, indicating a low level of leverage. The company’s current ratio stands at 4.27, and the quick ratio is 1.63, both of which reflect a solid liquidity position. The stock has fluctuated significantly over the past year, with a 52-week low of $2.04 and a 52-week high of $9.80.
Recent Earnings Report
On December 22, 2023, Intelligent Living Application Group announced its earnings results, reporting an earnings per share (EPS) of ($1.35) for the quarter. The company generated revenue of $1.15 million during this period, which indicates challenges in profitability despite its operational presence.
Intelligent Living Application Group Inc., founded in 1981, is headquartered in Kwai Chung, Hong Kong. The company specializes in the manufacturing and sale of mechanical locksets, which include various types such as deadbolts and entry locksets, catering to both indoor and outdoor applications.
This significant increase in short interest and the recent stock performance could indicate shifting investor sentiment and market conditions that may impact the company’s future trajectory. Investors will be watching closely for further developments as the company navigates its operational challenges and market fluctuations.
