Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Get Free Report) shares dropped 5.7% during mid-day trading on Tuesday . The stock traded as low as $6.71 and last traded at $6.8110. 1,886,863 shares changed hands during trading, a decline of 10% from the average daily volume of 2,098,994 shares. The stock had previously closed at $7.22.
Hyliion Stock Performance
The stock has a market capitalization of $1.15 billion, a PE ratio of -21.56 and a beta of 3.41. The firm’s 50 day moving average is $3.41 and its two-hundred day moving average is $2.48.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Hyliion by 76.3% during the 4th 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. HITE Hedge Asset Management LLC raised its position 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 valued at $5,203,000 after purchasing an additional 1,553,626 shares in the last quarter. Millennium Management LLC raised its position in Hyliion by 27.4% in the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after purchasing an additional 1,355,951 shares in the last quarter. J. Derek Lewis & Associates Inc. purchased a new position in shares of Hyliion in the 4th quarter valued at about $1,586,000. Finally, Marshall Wace LLP acquired a new position in shares of Hyliion during the second quarter worth about $386,000. 22.81% of the stock is currently owned by hedge funds and other 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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