Hongli Group Inc. (NASDAQ:HLP) Short Interest Up 182.2% in July

Hongli Group Inc. (NASDAQ:HLP) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 531,882 shares, a growth of 182.2% from the June 30th total of 188,468 shares. Based on an average daily volume of 5,493,249 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Hongli Group

A hedge fund recently bought a new position in Hongli Group stock. Renaissance Technologies LLC bought a new position in Hongli Group Inc. (NASDAQ:HLP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 69,400 shares of the company’s stock, valued at approximately $72,000.

Hongli Group Trading Up 12.3%

Shares of HLP stock traded up $0.14 during trading hours on Tuesday, hitting $1.28. The stock had a trading volume of 175,740 shares, compared to its average volume of 956,518. Hongli Group has a one year low of $0.34 and a one year high of $1.72. The stock’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $0.87.

Analysts Set New Price Targets

Several research firms have recently issued reports on HLP. Wall Street Zen upgraded shares of Hongli Group to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Hongli Group in a research report on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.