Hongli Group Inc. (NASDAQ:HLP – Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 22,970 shares, an increase of 204.5% from the March 15th total of 7,543 shares. Based on an average daily volume of 101,848 shares, the days-to-cover ratio is currently 0.2 days.
Hongli Group Stock Up 0.5%
Shares of Hongli Group stock traded up $0.00 during trading on Friday, reaching $0.89. 6,796 shares of the company traded hands, compared to its average volume of 139,537. Hongli Group has a 1-year low of $0.61 and a 1-year high of $1.82. The company has a 50 day moving average price of $1.00 and a 200-day moving average price of $1.19.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered shares of Hongli Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. bought a new stake in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 26,154 shares of the company’s stock, valued at approximately $27,000.
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.
Further Reading
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