Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Get Free Report)’s stock price traded down 8.5% on Wednesday . The stock traded as low as $4.74 and last traded at $4.7650. 2,764,390 shares were traded during trading, an increase of 6% from the average session volume of 2,613,381 shares. The stock had previously closed at $5.21.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC initiated coverage on shares of Hyliion in a report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.
Get Our Latest Stock Analysis on Hyliion
Hyliion Stock Performance
Hedge Funds Weigh In On Hyliion
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in shares of Hyliion by 27.4% during the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock worth $8,814,000 after purchasing an additional 1,355,951 shares during the last quarter. Invesco Ltd. boosted its holdings in 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 purchasing an additional 2,706,803 shares in the last quarter. State Street Corp raised its holdings in Hyliion by 0.8% during the fourth quarter. State Street Corp now owns 3,036,081 shares of the company’s stock valued at $5,586,000 after buying an additional 22,963 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hyliion by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock worth $5,472,000 after buying an additional 59,019 shares during the last quarter. Finally, HITE Hedge Asset Management LLC lifted its position in shares of Hyliion by 121.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock worth $5,203,000 after buying an additional 1,553,626 shares during the last quarter. 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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