Hyliion (NYSEAMERICAN:HYLN – Get Free Report) was upgraded by research analysts at Needham & Company LLC to a “moderate buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
Hyliion Stock Performance
Shares of HYLN stock opened at $6.92 on Wednesday. Hyliion has a 52-week low of $1.30 and a 52-week high of $7.97. The company has a 50-day simple moving average of $3.60 and a two-hundred day simple moving average of $2.55. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -23.07 and a beta of 3.43.
Hedge Funds Weigh In On Hyliion
Several institutional investors have recently bought and sold shares of HYLN. Millennium Management LLC increased its position in Hyliion by 27.4% in the first quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock worth $8,814,000 after buying an additional 1,355,951 shares during the last quarter. Invesco Ltd. lifted its position in shares of Hyliion by 76.3% during the 4th quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock valued at $11,507,000 after buying an additional 2,706,803 shares during the last quarter. State Street Corp grew its stake in shares of Hyliion by 0.8% during the 4th quarter. State Street Corp now owns 3,036,081 shares of the company’s stock worth $5,586,000 after acquiring an additional 22,963 shares during the period. Geode Capital Management LLC grew its stake in shares of Hyliion by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock worth $5,472,000 after acquiring an additional 59,019 shares during the period. Finally, HITE Hedge Asset Management LLC increased its holdings in Hyliion by 121.9% in the 4th quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock worth $5,203,000 after acquiring an additional 1,553,626 shares during the last quarter. 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.
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