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

Hongli Group Inc. (NASDAQ:HLP) was the target of a significant decline in short interest in 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 currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

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

Hongli Group Stock Down 5.1%

HLP traded down $0.03 during trading on Friday, hitting $0.50. 170,867 shares of the stock traded hands, compared to its average volume of 231,576. Hongli Group has a twelve month low of $0.34 and a twelve month high of $1.72. The business has a 50 day moving average price of $0.78 and a 200 day moving average price of $0.98.

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.