I can shoot 4-5" groups out to about 30 paces with it, but I think it could do more with a better rear sight.
At thirty paces, I'm going to assume you're shooting at about 18-20 yards. That's a pretty decent distance for practice, but I think almost any pistol should be reasonably accurate at that distance. Are you sure it's the gun? How long have you been shooting? All shooters develop different habits over time - some good, some not so good. Are you breathing right? How's your sight alignment? Jerking the trigger? Anticipating? What about flinching?
You sure? Check again...
How long have you had your gun? Are you used to it? I shoot some guns very well, others I don't do so hot with. Glocks, for example, I'm not so accurate with. Some folks can drive tacks with 'em.
I find WWB 115 and 147gr. FMJ's shoot really well for me. I also practice from 10-25 yards, and for me it shoots nice & flat. I owned a Hi-Point a while back, and IIRC the rear sight was very easy to put off-center. There was no click, or anything else to indicate proper placement. Things might have changed w/Hi-Point since then, that was a few years ago... and I had a different model.
Toy around with that sight, and different ammo - but first, make sure you haven't developed some bad habit along the way that's affecting your shooting. IMO it's almost always the shooter, not the gun.