Hongli Group Inc. [HLP] moved down -23.39: Why It’s Important

Hongli Group Inc. [NASDAQ: HLP] slipped around -0.65 points on Friday, while shares priced at $2.12 at the close of the session, down -23.39%. The company report on May 2, 2023 at 4:30 PM that Hongli Group Inc. Announces the Exercise of the Underwriter’s Over-Allotment Option.

EF Hutton, division of Benchmark Investments, LLC acted as sole book-running manager for the offering.

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Compared to the average trading volume of 105.99K shares, HLP reached a trading volume of 436140 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Hongli Group Inc. [HLP]?

The Average True Range (ATR) for Hongli Group Inc. is set at 0.34, with the Price to Sales ratio for HLP stock in the period of the last 12 months amounting to 1.69.

How has HLP stock performed recently?

Hongli Group Inc. [HLP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -42.80.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HLP stock in for the last two-week period is set at 30.11, with the RSI for the last a single of trading hit 23.69, and the three-weeks RSI is set at 34.48 for Hongli Group Inc. [HLP]. The present Moving Average for the last 50 days of trading for this stock 3.10, while it was recorded at 3.00 for the last single week of trading.

Hongli Group Inc. [HLP]: Deeper insight into the fundamentals

Hongli Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.

Insider trade positions for Hongli Group Inc. [HLP]

The top three institutional holders of HLP stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in HLP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in HLP stock with ownership which is approximately 5.7381%.

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