Hongli Group Inc. (NASDAQ:HLP – Get Free Report) shares rose 2.9% during trading on Wednesday. The stock traded as high as $2.61 and last traded at $2.52. Approximately 50,682 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 747,500 shares. The stock had previously closed at $2.45.
Analyst Ratings Changes
A number of equities research analysts have issued reports on HLP shares. Weiss Ratings raised shares of Hongli Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, September 11th. Wall Street Zen upgraded Hongli Group to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Hongli Group has an average rating of “Hold”.
Get Our Latest Stock Report on HLP
Hongli Group Price Performance
Institutional Trading of Hongli Group
An institutional investor recently raised its stake in Hongli Group stock. Renaissance Technologies LLC lifted its holdings in shares of Hongli Group Inc. (NASDAQ:HLP – Free Report) by 35.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,925 shares of the company’s stock after purchasing an additional 24,525 shares during the quarter. Renaissance Technologies LLC’s holdings in Hongli Group were worth $83,000 at the end of the most recent quarter.
About Hongli Group
Hongli Group Inc (NASDAQ: HLP) is a China-based manufacturer of cold-formed steel profiles and related products. The company produces customized steel sections by forming steel coils or sheets into specific shapes and dimensions for use in industrial and infrastructure applications.
Its products are used in areas including mining, construction, transportation and machinery manufacturing. Hongli Group’s offerings include structural and support profiles designed for applications such as mine support systems, equipment components and other projects requiring specialized steel shapes.
The company serves customers primarily in China through its manufacturing operations and business relationships with industrial users.
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