Hongli Group Inc. (NASDAQ:HLP) Short Interest Up 70.8% in April
by Doug Wharley · The Cerbat GemHongli Group Inc. (NASDAQ:HLP – Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totaling 39,229 shares, a growth of 70.8% from the March 31st total of 22,970 shares. Based on an average trading volume of 390,155 shares, the short-interest ratio is currently 0.1 days.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of Hongli Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.
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Hedge Funds Weigh In On Hongli Group
A hedge fund recently bought a new stake in Hongli Group stock. Renaissance Technologies LLC purchased a new stake in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 69,400 shares of the company’s stock, valued at approximately $72,000.
Hongli Group Stock Down 2.7%
Shares of NASDAQ:HLP traded down $0.02 during trading on Monday, reaching $0.88. The company’s stock had a trading volume of 42,819 shares, compared to its average volume of 160,056. Hongli Group has a 12 month low of $0.61 and a 12 month high of $1.82. The firm’s 50 day simple moving average is $1.00 and its two-hundred day simple moving average is $1.17.
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.