Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Get Free Report) shares gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $3.41, but opened at $3.73. Hyliion shares last traded at $3.68, with a volume of 458,204 shares.
Specifically, Director Vincent T. Cubbage bought 50,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $3.40 per share, for a total transaction of $170,000.00. Following the completion of the acquisition, the director directly owned 1,131,363 shares in the company, valued at approximately $3,846,634.20. This trade represents a 4.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Analyst Ratings Changes
Several analysts have commented on HYLN shares. Needham & Company LLC began coverage on shares of Hyliion in a research report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 price objective on the stock. 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 report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $8.00.
Hyliion Stock Performance
The business’s 50 day moving average is $4.14 and its two-hundred day moving average is $3.55. The firm has a market capitalization of $646.53 million, a PE ratio of -12.07 and a beta of 3.52.
Hyliion (NYSEAMERICAN:HYLN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%.The firm had revenue of $4.94 million during the quarter, compared to analyst estimates of $2.40 million. As a group, equities research analysts predict that Hyliion Holdings Corp. will post -0.31 EPS for the current year.
Institutional Investors Weigh In On Hyliion
Several hedge funds and other institutional investors have recently modified their holdings of HYLN. AXQ Capital LP purchased a new stake in shares of Hyliion in the second quarter worth about $147,000. Headlands Technologies LLC purchased a new position in Hyliion during the second quarter valued at approximately $319,000. Apella Capital LLC grew its stake in Hyliion by 56.9% during the second quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock valued at $172,000 after acquiring an additional 11,972 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Hyliion by 48.8% during the 1st quarter. Renaissance Technologies LLC now owns 318,600 shares of the company’s stock worth $561,000 after acquiring an additional 104,500 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Hyliion by 28.3% during the 1st quarter. Cetera Investment Advisers now owns 94,957 shares of the company’s stock worth $167,000 after acquiring an additional 20,956 shares during the period. 22.81% of the stock is currently owned by institutional investors.
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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