Short Interest in Hongli Group Inc. (NASDAQ:HLP) Rises By 3,111.8%

Hongli Group Inc. (NASDAQ:HLP) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 277,078 shares, a growth of 3,111.8% from the April 30th total of 8,627 shares. Based on an average daily volume of 499,339 shares, the short-interest ratio is currently 0.6 days.

Hongli Group Stock Up 9.5%

HLP traded up $0.04 on Wednesday, hitting $0.48. 241,199 shares of the company traded hands, compared to its average volume of 231,562. The company has a 50 day moving average of $0.89 and a 200-day moving average of $1.06. Hongli Group has a 12-month low of $0.34 and a 12-month high of $1.72.

Institutional Trading of Hongli Group

A hedge fund recently raised its stake in Hongli Group stock. Renaissance Technologies LLC raised its stake in shares of Hongli Group Inc. (NASDAQ:HLP) by 35.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,925 shares of the company’s stock after acquiring an additional 24,525 shares during the period. Renaissance Technologies LLC’s holdings in Hongli Group were worth $83,000 as of its most recent SEC filing.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hongli Group in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

About Hongli Group

Hongli Group (NASDAQ: HLP) is a China-based manufacturer specializing in high-performance polyethylene separator membranes for lithium-ion batteries. The company develops, produces and distributes microporous membrane products designed to enhance battery safety, efficiency and life span. Its core separators find application in electric vehicles, consumer electronics, energy storage systems and power tools.

Leveraging in-house research and development capabilities, Hongli Group continually refines its production processes and membrane formulations.