Hongli Group Inc. (NASDAQ:HLP) Short Interest Up 674.8% in June

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

Hedge Funds Weigh In On Hongli Group

A hedge fund recently bought a new stake in Hongli Group stock. Goldman Sachs Group Inc. bought a new stake in Hongli Group Inc. (NASDAQ:HLP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,154 shares of the company’s stock, valued at approximately $27,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Hongli Group to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hongli Group in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hongli Group Stock Up 6.1%

Shares of HLP stock opened at $0.54 on Friday. Hongli Group has a one year low of $0.34 and a one year high of $1.72. The stock has a fifty day moving average price of $0.70 and a 200 day moving average price of $0.90.

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.