Hongli Group Inc. (NASDAQ:HLP – Get Free Report) was the target of a large growth in short interest during 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 short-interest ratio is presently 0.1 days.
Hedge Funds Weigh In On Hongli Group
An institutional investor recently bought a new position in Hongli Group stock. Renaissance Technologies LLC purchased a new position in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,400 shares of the company’s stock, valued at approximately $72,000.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Wall Street Zen raised Hongli Group to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hongli Group in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.
Hongli Group Stock Up 12.3%
Shares of NASDAQ HLP opened at $1.28 on Wednesday. Hongli Group has a twelve month low of $0.34 and a twelve month high of $1.72. The stock has a fifty day simple moving average of $0.71 and a 200-day simple moving average of $0.87.
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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