Hongli Group Inc. (NASDAQ:HLP – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 22,970 shares, an increase of 204.5% from the March 15th total of 7,543 shares. Based on an average daily trading volume, of 101,848 shares, the short-interest ratio is presently 0.2 days.
Hongli Group Stock Performance
Shares of NASDAQ:HLP traded up $0.01 during mid-day trading on Monday, hitting $0.90. 371,250 shares of the company traded hands, compared to its average volume of 142,899. The firm’s 50 day simple moving average is $1.00 and its 200 day simple moving average is $1.19. Hongli Group has a 52-week low of $0.61 and a 52-week high of $1.82.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings downgraded shares of Hongli Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Hongli Group stock. Renaissance Technologies LLC acquired a new stake in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 69,400 shares of the company’s stock, valued at approximately $72,000.
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.
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