Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Get Free Report) hit a new 52-week high on Monday . The company traded as high as $8.22 and last traded at $7.8170, with a volume of 1116029 shares. The stock had previously closed at $7.40.
Analysts Set New Price Targets
Separately, Needham & Company LLC assumed coverage on shares of Hyliion in a research note on Wednesday, June 10th. They set a “buy” rating and a $9.00 price target on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.
Check Out Our Latest Stock Analysis on Hyliion
Hyliion Stock Down 0.3%
Institutional Investors Weigh In On Hyliion
Several institutional investors have recently modified their holdings of HYLN. CIBC Bancorp USA Inc. bought a new stake in shares of Hyliion during the third quarter worth approximately $26,000. Hsbc Holdings PLC bought a new position in Hyliion in the first quarter valued at approximately $27,000. Cubist Systematic Strategies LLC acquired a new stake in Hyliion during the 1st quarter worth $26,000. Banco BTG Pactual S.A. bought a new stake in shares of Hyliion during the 3rd quarter valued at $37,000. Finally, Savant Capital LLC bought a new stake in shares of Hyliion during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 22.81% of the company’s stock.
Hyliion Company Profile
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.
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