Hongli Group Inc. (NASDAQ:HLP – Get Free Report) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 7,543 shares, a drop of 59.1% from the February 26th total of 18,436 shares. Based on an average daily trading volume, of 66,320 shares, the short-interest ratio is presently 0.1 days.
Institutional Trading of Hongli Group
An institutional investor recently bought a new position in Hongli Group stock. Goldman Sachs Group Inc. purchased a new stake in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 26,154 shares of the company’s stock, valued at approximately $27,000.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered Hongli Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.
Hongli Group Stock Up 2.4%
Shares of NASDAQ:HLP traded up $0.02 during mid-day trading on Friday, hitting $0.98. The stock had a trading volume of 36,622 shares, compared to its average volume of 113,422. The company’s 50 day moving average is $0.99 and its 200-day moving average is $1.19. Hongli Group has a 12-month low of $0.61 and a 12-month high of $1.82.
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.
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