Hongli Group Inc. (NASDAQ:HLP – Get Free Report) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 188,468 shares, a decline of 73.7% from the June 15th total of 716,162 shares. Based on an average trading volume of 1,110,618 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Trading of Hongli Group
A hedge fund recently bought a new position in Hongli Group stock. Goldman Sachs Group Inc. acquired a new position in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,154 shares of the company’s stock, valued at approximately $27,000.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Wall Street Zen upgraded Hongli Group to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hongli Group in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Hongli Group presently has an average rating of “Sell”.
Hongli Group Price Performance
Shares of HLP traded down $0.05 during midday trading on Tuesday, reaching $1.11. The stock had a trading volume of 100,436 shares, compared to its average volume of 1,017,623. The company’s fifty day simple moving average is $0.67 and its two-hundred day simple moving average is $0.86. Hongli Group has a 1-year low of $0.34 and a 1-year high of $1.72.
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.
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