Hongli Group (NASDAQ:HLP) Stock Price Down 3.9% – Here’s Why

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

Analysts Set New Price Targets

HLP has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hongli Group in a report on Wednesday, August 5th. Wall Street Zen raised Hongli Group to a “hold” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Hongli Group has an average rating of “Sell”.

Hongli Group Trading Down 3.9%

The business’s 50-day moving average price is $0.92 and its 200-day moving average price is $0.91.

Institutional Inflows and Outflows

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

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.