Hongli Group Inc. (NASDAQ:HLP) Short Interest Up 182.2% in July

Hongli Group Inc. (NASDAQ:HLP) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 531,882 shares, a growth of 182.2% from the June 30th total of 188,468 shares. Based on an average trading volume of 5,493,249 shares, the days-to-cover ratio is presently 0.1 days.

Hongli Group Price Performance

Shares of HLP stock traded down $0.01 during mid-day trading on Monday, reaching $1.11. The stock had a trading volume of 98,872 shares, compared to its average volume of 961,904. The stock’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $0.86. Hongli Group has a 52-week low of $0.34 and a 52-week high of $1.72.

Hedge Funds Weigh In On Hongli Group

An institutional investor recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. purchased a new stake in Hongli Group Inc. (NASDAQ:HLP) during the 4th quarter, according to the company in 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.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HLP shares. Wall Street Zen raised shares of Hongli Group to a “hold” rating in a report on Saturday, June 27th. 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, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.