Hongli Group Inc. (NASDAQ:HLP) Sees Significant Decrease in Short Interest

Hongli Group Inc. (NASDAQ:HLP) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 8,627 shares, a decline of 78.0% from the April 15th total of 39,229 shares. Based on an average trading volume of 175,220 shares, the days-to-cover ratio is currently 0.0 days.

Hongli Group Trading Up 23.9%

NASDAQ:HLP traded up $0.23 on Wednesday, hitting $1.17. 1,047,563 shares of the company’s stock traded hands, compared to its average volume of 160,085. Hongli Group has a 1 year low of $0.61 and a 1 year high of $1.72. The firm has a 50-day moving average price of $0.96 and a 200-day moving average price of $1.12.

Wall Street Analysts Forecast Growth

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 MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

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

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.