Hongli Group Inc. (NASDAQ:HLP) Short Interest Down 66.6% in May

Hongli Group Inc. (NASDAQ:HLP) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 92,433 shares, a drop of 66.6% from the May 14th total of 277,078 shares. Based on an average trading volume of 559,077 shares, the days-to-cover 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. purchased a new stake in Hongli Group Inc. (NASDAQ:HLP) in the 4th quarter, according to 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hongli Group in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hongli Group Trading Up 6.2%

Shares of NASDAQ HLP opened at $0.51 on Thursday. Hongli Group has a fifty-two week low of $0.34 and a fifty-two week high of $1.72. The stock has a fifty day moving average of $0.80 and a 200-day moving average of $0.99.

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.