Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Get Free Report) was up 10.6% during mid-day trading on Tuesday. The company traded as high as $3.29 and last traded at $3.2950. Approximately 534,075 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,515,314 shares. The stock had previously closed at $2.98.
Wall Street Analyst Weigh In
Several research analysts have commented on HYLN shares. Craig Hallum assumed coverage on Hyliion in a research note on Tuesday, September 29th. They issued a “buy” rating and a $7.00 price objective for the company. Northland Securities raised shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Thursday, August 13th. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.67.
Check Out Our Latest Report on HYLN
Hyliion Stock Up 1.9%
The firm’s 50 day moving average is $3.69 and its 200-day moving average is $3.43. The firm has a market cap of $613.49 million, a PE ratio of -11.45 and a beta of 3.57.
Hyliion (NYSEAMERICAN:HYLN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $4.94 million during the quarter, compared to the consensus estimate of $2.40 million. Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%. On average, analysts forecast that Hyliion Holdings Corp. will post -0.31 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Vincent Cubbage purchased 50,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were bought at an average price of $3.40 per share, for a total transaction of $170,000.00. Following the acquisition, the director directly owned 1,131,363 shares in the company, valued at $3,846,634.20. This trade represents a 4.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 21.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Hyliion
A number of institutional investors and hedge funds have recently made changes to their positions in HYLN. Dimensional Fund Advisors LP grew its position in Hyliion by 34.1% during the first quarter. Dimensional Fund Advisors LP now owns 799,672 shares of the company’s stock valued at $1,406,000 after acquiring an additional 203,451 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Hyliion by 48.8% in the 1st quarter. Renaissance Technologies LLC now owns 318,600 shares of the company’s stock worth $561,000 after purchasing an additional 104,500 shares during the period. Inspire Investing LLC lifted its stake in shares of Hyliion by 14.4% in the 3rd quarter. Inspire Investing LLC now owns 153,181 shares of the company’s stock valued at $639,000 after purchasing an additional 19,326 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co lifted its stake in shares of Hyliion by 72.8% in the 3rd quarter. Walser Wealth Management Company A Ltd Liability Co now owns 103,650 shares of the company’s stock valued at $432,000 after purchasing an additional 43,684 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Hyliion by 28.3% in the 1st quarter. Cetera Investment Advisers now owns 94,957 shares of the company’s stock valued at $167,000 after purchasing an additional 20,956 shares in the last quarter. 22.81% of the stock is currently owned by institutional investors and hedge funds.
Hyliion Company Profile
Hyliion Holdings Corp. develops sustainable power-generation technologies designed to reduce emissions and improve efficiency across commercial and industrial applications. The company is focused on its KARNO generator, an additive-manufactured, fuel-agnostic generator platform that can operate on a range of fuels, including hydrogen and renewable fuels.
The KARNO technology is intended for use in distributed power-generation systems, including stationary and mobile applications. Hyliion has positioned the platform for potential use in data centers, microgrids, commercial facilities, and other settings that require reliable electricity with lower emissions than conventional generators.
Hyliion was founded in 2015 by Thomas Healy and initially developed hybrid and electric powertrain systems for commercial trucks.
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