Short Interest in Hongli Group Inc. (NASDAQ:HLP) Declines By 70.7%

Hongli Group Inc. (NASDAQ:HLP) was the recipient of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 14,628 shares, a drop of 70.7% from the January 29th total of 49,994 shares. Based on an average trading volume of 187,069 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 187,069 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Hongli Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Hongli Group Stock Performance

HLP opened at $1.07 on Thursday. Hongli Group has a twelve month low of $0.61 and a twelve month high of $1.82. The company has a 50-day moving average price of $0.99 and a 200 day moving average price of $1.15.

Hedge Funds Weigh In On Hongli Group

A hedge fund recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. purchased a new position in shares of Hongli Group Inc. (NASDAQ:HLP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,154 shares of the company’s stock, valued at approximately $27,000.

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.