J. Derek Lewis & Associates Inc. grew its stake in shares of Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Free Report) by 39.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,163,800 shares of the company’s stock after acquiring an additional 330,400 shares during the period. Hyliion makes up approximately 0.9% of J. Derek Lewis & Associates Inc.’s portfolio, making the stock its 24th largest position. J. Derek Lewis & Associates Inc.’s holdings in Hyliion were worth $4,853,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. CenterBook Partners LP increased its holdings in shares of Hyliion by 94.6% in the 3rd quarter. CenterBook Partners LP now owns 578,114 shares of the company’s stock valued at $2,411,000 after purchasing an additional 281,007 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Hyliion by 28.2% in the third quarter. Commonwealth Equity Services LLC now owns 32,058 shares of the company’s stock valued at $134,000 after purchasing an additional 7,061 shares during the period. State of Wyoming purchased a new stake in Hyliion during the third quarter worth about $28,000. Inspire Investing LLC boosted its holdings in Hyliion by 14.4% during the third quarter. Inspire Investing LLC now owns 153,181 shares of the company’s stock worth $639,000 after buying an additional 19,326 shares in the last quarter. Finally, Walser Wealth Management Company A Ltd Liability Co boosted its holdings in Hyliion by 72.8% during the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 103,650 shares of the company’s stock worth $432,000 after buying an additional 43,684 shares in the last quarter. 22.81% of the stock is currently owned by hedge funds and other institutional investors.
Hyliion Stock Performance
Hyliion stock opened at $2.99 on Friday. Hyliion Holdings Corp. has a fifty-two week low of $1.56 and a fifty-two week high of $8.49. The firm has a market capitalization of $534.01 million, a price-to-earnings ratio of -9.97 and a beta of 3.74. The stock’s fifty day moving average is $3.66 and its two-hundred day moving average is $3.46.
Hyliion (NYSEAMERICAN:HYLN – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate 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%. As a group, sell-side analysts forecast that Hyliion Holdings Corp. will post -0.31 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Northland Securities upgraded shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a research report on Thursday, August 13th. Craig Hallum initiated coverage on Hyliion in a report on Tuesday, September 29th. They issued a “buy” rating and a $7.00 price target on the stock. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.67.
Read Our Latest Analysis on Hyliion
Insider Transactions at Hyliion
In other news, Director Vincent Cubbage acquired 50,000 shares of Hyliion stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average price of $3.40 per share, with a total value of $170,000.00. Following the completion of the purchase, the director owned 1,131,363 shares of the company’s stock, valued at approximately $3,846,634.20. This represents a 4.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.40% of the company’s stock.
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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