Short Interest in Hongli Group Inc. (NASDAQ:HLP) Drops By 73.7%

Hongli Group Inc. (NASDAQ:HLP) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 188,468 shares, a decrease of 73.7% from the June 15th total of 716,162 shares. Based on an average daily volume of 1,110,618 shares, the days-to-cover ratio is currently 0.2 days.

Hongli Group Price Performance

HLP stock traded down $0.01 during midday trading on Monday, hitting $1.16. The stock had a trading volume of 413,446 shares, compared to its average volume of 1,024,608. The business has a 50-day moving average of $0.67 and a two-hundred day moving average of $0.86. Hongli Group has a 52-week low of $0.34 and a 52-week high of $1.72.

Institutional Trading of Hongli Group

A hedge fund recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. purchased a new position in Hongli Group Inc. (NASDAQ:HLP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 26,154 shares of the company’s stock, valued at approximately $27,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HLP shares. Wall Street Zen raised shares of Hongli Group to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hongli Group in a research note on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

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.