Intelligent Living Application Group Inc. (NASDAQ:ILAG) experienced a remarkable increase in short interest during February 2023, with the total reaching 19,248 shares as of February 13, representing a substantial rise of 175.8% from the previous total of 6,980 shares reported on January 29. This surge indicates that approximately 1.9% of the company’s total shares are currently sold short.
Short interest reflects market sentiment, and the sharp increase suggests growing skepticism among investors regarding the company’s future performance. The days-to-cover ratio, which indicates how long it would take to cover all short positions based on trading volume, is currently at 1.1 days. This figure is derived from an average daily trading volume of 17,014 shares, illustrating the liquidity in the trading of ILAG shares.
Stock Performance and Financial Metrics
On February 17, 2023, shares of Intelligent Living Application Group traded up by $0.05, reaching a price of $2.65. The trading session saw a volume of 3,509 shares, which is significantly lower than its average volume of 69,730 shares. The stock’s performance over the past 50 days shows a moving average price of $3.36, while the two-hundred-day moving average stands at $4.76.
The company’s financial health appears stable, as indicated by a low debt-to-equity ratio of 0.02. Its current ratio is 4.27, and the quick ratio is 1.63, suggesting a strong liquidity position. ILAG’s stock has seen fluctuations over the past year, with a 52-week low of $2.04 and a high of $9.80.
Recent Earnings and Company Overview
Intelligent Living Application Group last released its earnings report on December 22, 2022. The company recorded a loss of ($1.35) earnings per share (EPS) for the quarter, with total revenue reported at $1.15 million. These results highlight the challenges the company faces, particularly in achieving profitability.
Founded in 1981 and headquartered in Kwai Chung, Hong Kong, Intelligent Living Application Group Inc. specializes in the manufacture and sale of mechanical locksets. Their product range includes deadbolts, entry locksets, privacy locksets, and storeroom locks suitable for both indoor and outdoor applications.
As market dynamics continue to evolve, stakeholders will be keenly watching the developments surrounding Intelligent Living Application Group and its ability to navigate the challenging landscape of the lock manufacturing industry.
