Hongli Group Inc. (NASDAQ:HLP) Short Interest Down 59.1% in March

Hongli Group Inc. (NASDAQ:HLP) was the recipient of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 7,543 shares, a decline of 59.1% from the February 26th total of 18,436 shares. Based on an average trading volume of 66,320 shares, the short-interest ratio is presently 0.1 days.

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 research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Hongli Group Trading Up 2.8%

Shares of NASDAQ HLP opened at $1.01 on Thursday. Hongli Group has a twelve month low of $0.61 and a twelve month high of $1.82. The stock has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.19.

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 position in shares of Hongli Group Inc. (NASDAQ:HLP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,154 shares of the company’s stock, valued at approximately $27,000.

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.