Hongli Group (NASDAQ:HLP) Stock Price Down 3.9% – Time to Sell?

Hongli Group Inc. (NASDAQ:HLP) traded down 3.9% during trading on Monday . The stock traded as low as $1.22 and last traded at $1.22. 26,846 shares changed hands during trading, a decline of 97% from the average daily volume of 875,016 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

HLP has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Hongli Group to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hongli Group in a research note on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hongli Group Stock Performance

The firm has a 50 day moving average of $0.92 and a two-hundred day moving average of $0.91.

Institutional Trading of Hongli Group

A hedge fund recently raised its position in Hongli Group stock. Renaissance Technologies LLC lifted its stake in Hongli Group Inc. (NASDAQ:HLP) by 35.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,925 shares of the company’s stock after buying an additional 24,525 shares during the period. Renaissance Technologies LLC’s holdings in Hongli Group were worth $83,000 at the end of the most recent quarter.

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.