Hongli Group Inc. (NASDAQ:HLP) Sees Large Increase in Short Interest

Hongli Group Inc. (NASDAQ:HLP) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 277,078 shares, a growth of 3,111.8% from the April 30th total of 8,627 shares. Based on an average daily volume of 499,339 shares, the short-interest ratio is currently 0.6 days.

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 Hongli Group Inc. (NASDAQ:HLP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,154 shares of the company’s stock, valued at approximately $27,000.

Analyst Ratings Changes

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

Hongli Group Stock Performance

Shares of NASDAQ:HLP opened at $0.48 on Thursday. The stock’s fifty day simple moving average is $0.89 and its 200-day simple moving average is $1.06. Hongli Group has a 52-week low of $0.34 and a 52-week high of $1.72.

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.