Short Interest in Hongli Group Inc. (NASDAQ:HLP) Grows By 3,111.8%

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Hongli Group in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hongli Group currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Hongli Group

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

Hongli Group Stock Performance

NASDAQ HLP traded up $0.12 during mid-day trading on Friday, hitting $0.62. The stock had a trading volume of 218,349 shares, compared to its average volume of 228,972. The company has a 50 day simple moving average of $0.88 and a 200 day simple moving average of $1.05. Hongli Group has a 52-week low of $0.34 and a 52-week high of $1.72.

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.