Hongli Group Inc. (NASDAQ:HLP) Sees Large Growth in Short Interest

Hongli Group Inc. (NASDAQ:HLP) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 48,900 shares, a growth of 259.6% from the January 31st total of 13,600 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 58,100 shares, the days-to-cover ratio is currently 0.8 days.

Hongli Group Stock Performance

Shares of HLP opened at $1.32 on Friday. The company’s 50-day moving average price is $1.33 and its 200 day moving average price is $1.42. Hongli Group has a 12-month low of $0.99 and a 12-month high of $2.25.

About Hongli Group

Hongli Group Inc, through its subsidiaries, designs, customizes, manufactures, and sells cold roll formed steel profiles for machinery and equipment in the People's Republic of China, South Korea, Japan, the United States, and Sweden. It serves mining and excavation, construction, agriculture, and transportation industries.