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

Hongli Group Inc. (NASDAQ:HLP) saw a significant decline in short interest in May. As of May 29th, there was short interest totaling 92,433 shares, a decline of 66.6% from the May 14th total of 277,078 shares. Based on an average daily volume of 559,077 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hongli Group Stock Performance

Hongli Group stock opened at $0.51 on Thursday. Hongli Group has a 52 week low of $0.34 and a 52 week high of $1.72. The business has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $0.99.

Hedge Funds Weigh In On Hongli Group

A hedge fund recently raised its stake in Hongli Group stock. Renaissance Technologies LLC raised its holdings in shares of Hongli Group Inc. (NASDAQ:HLP) by 35.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,925 shares of the company’s stock after buying an additional 24,525 shares during the quarter. Renaissance Technologies LLC’s holdings in Hongli Group were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

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.