Hongli Group Inc. (NASDAQ:HLP – Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 531,882 shares, a growth of 182.2% from the June 30th total of 188,468 shares. Based on an average daily trading volume, of 5,493,249 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Trading of Hongli Group
An institutional investor recently bought a new position in Hongli Group stock. Goldman Sachs Group Inc. acquired a new stake in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 26,154 shares of the company’s stock, valued at approximately $27,000.
Analyst Ratings Changes
A number of research analysts have weighed in on HLP shares. Wall Street Zen upgraded Hongli Group to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Hongli Group in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.
Hongli Group Trading Down 0.4%
NASDAQ HLP traded down $0.01 during trading hours on Monday, reaching $1.11. 98,872 shares of the company’s stock traded hands, compared to its average volume of 961,904. Hongli Group has a 52-week low of $0.34 and a 52-week high of $1.72. The firm has a 50-day simple moving average of $0.70 and a 200 day simple moving average of $0.86.
Hongli Group Company Profile
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.
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