Hyliion (NYSE:HYLN) Trading Up 3.3% – Here’s Why

Hyliion Holdings Corp. (NYSE:HYLN)’s share price was up 3.3% on Tuesday . The stock traded as high as $1.94 and last traded at $1.90. Approximately 916,409 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 954,692 shares. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Hyliion from a “sell” rating to a “hold” rating in a research note on Sunday, December 28th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Hyliion Price Performance

The company has a market capitalization of $341.40 million, a PE ratio of -5.19 and a beta of 2.67. The stock’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $1.99.

Hedge Funds Weigh In On Hyliion

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in shares of Hyliion by 76.3% in the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock worth $11,507,000 after acquiring an additional 2,706,803 shares in the last quarter. HITE Hedge Asset Management LLC boosted its holdings in Hyliion by 121.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock valued at $5,203,000 after purchasing an additional 1,553,626 shares during the period. Millennium Management LLC boosted its holdings in Hyliion by 27.4% in the first quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after purchasing an additional 1,355,951 shares during the period. J. Derek Lewis & Associates Inc. acquired a new position in Hyliion during the 4th quarter worth $1,586,000. Finally, Marshall Wace LLP acquired a new position in Hyliion during the 2nd quarter worth $386,000. Hedge funds and other institutional investors own 22.81% of the company’s stock.

About Hyliion

Hyliion Holdings Corp. develops electrified powertrain solutions aimed at reducing fuel consumption and emissions for Class 8 commercial vehicles. Its flagship offerings include the Hypertruck ERX electric axle and hybrid powertrain systems that integrate battery packs with onboard natural gas generators. These modular solutions are designed to retrofit existing diesel trucks or to be incorporated by original equipment manufacturers, allowing fleets to transition toward lower-carbon operations without replacing entire fleets.

Founded in 2015 by Thomas Healy and based in Austin, Texas, Hyliion went public in 2020 via a special purpose acquisition company (SPAC) merger.