Short Interest in Hongli Group Inc. (NASDAQ:HLP) Rises By 674.8%

Hongli Group Inc. (NASDAQ:HLP) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 716,162 shares, a growth of 674.8% from the May 31st total of 92,433 shares. Based on an average daily volume of 3,893,555 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

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

Hongli Group Trading Up 6.0%

Shares of NASDAQ HLP opened at $0.51 on Friday. The company’s 50-day simple moving average is $0.71 and its 200-day simple moving average is $0.90. Hongli Group has a 52-week low of $0.34 and a 52-week high of $1.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. acquired a new position in Hongli Group Inc. (NASDAQ:HLP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 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.