Hongli Group Inc. (NASDAQ:HLP – Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 277,078 shares, an increase of 3,111.8% from the April 30th total of 8,627 shares. Based on an average daily volume of 499,339 shares, the days-to-cover ratio is currently 0.6 days.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Hongli Group stock. Renaissance Technologies LLC bought a new stake in Hongli Group Inc. (NASDAQ:HLP – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 69,400 shares of the company’s stock, valued at approximately $72,000.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Hongli Group in a research note on Friday, May 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.
Hongli Group Price Performance
HLP stock traded up $0.04 during midday trading on Wednesday, hitting $0.48. 241,199 shares of the company’s stock were exchanged, compared to its average volume of 231,562. The business has a 50-day simple moving average of $0.89 and a two-hundred day simple moving average of $1.06. Hongli Group has a 1-year low of $0.34 and a 1-year high of $1.72.
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.
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