Short Interest in Hongli Group Inc. (NASDAQ:HLP) Declines By 66.6%

Hongli Group Inc. (NASDAQ:HLP) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 92,433 shares, a decline of 66.6% from the May 14th total of 277,078 shares. Based on an average daily volume of 559,077 shares, the short-interest ratio is presently 0.2 days.

Hongli Group Stock Performance

Hongli Group stock traded down $0.03 during midday trading on Friday, reaching $0.50. 170,867 shares of the stock were exchanged, compared to its average volume of 231,576. The company’s fifty day moving average is $0.78 and its 200-day moving average is $0.98. Hongli Group has a 52 week low of $0.34 and a 52 week high of $1.72.

Institutional Trading of Hongli Group

An institutional investor recently bought a new position in Hongli Group stock. Goldman Sachs Group Inc. bought a new position in shares of Hongli Group Inc. (NASDAQ:HLP) during the fourth quarter, according to the company in 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Hongli Group in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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.