Hongli Group Inc. (NASDAQ:HLP) Short Interest Up 674.8% in June

Hongli Group Inc. (NASDAQ:HLP) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 716,162 shares, an increase of 674.8% from the May 31st total of 92,433 shares. Based on an average daily volume of 3,893,555 shares, the short-interest ratio is currently 0.2 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 stake in shares of Hongli Group Inc. (NASDAQ:HLP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,400 shares of the company’s stock, valued at approximately $72,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HLP. Wall Street Zen upgraded shares of Hongli Group to a “hold” rating in a report on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of Hongli Group in a report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hongli Group Trading Up 6.1%

HLP traded up $0.03 during trading on Friday, reaching $0.54. The company had a trading volume of 387,450 shares, compared to its average volume of 643,870. The firm’s 50-day simple moving average is $0.70 and its 200 day simple moving average is $0.90. Hongli Group has a 12-month low of $0.34 and a 12-month high of $1.72.

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.