Hyzon Motors (NASDAQ:HYZN) Sees Large Volume Increase

Shares of Hyzon Motors Inc. (NASDAQ:HYZN – Get Rating) saw unusually-strong trading volume on Friday . Approximately 66,147 shares traded hands during mid-day trading, a decline of 97% from the previous session’s volume of 2,244,662 shares.The stock last traded at $4.57 and had previously closed at $4.26.

A number of analysts have recently commented on HYZN shares. Wedbush reduced their price target on shares of Hyzon Motors from $15.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 25th. The Goldman Sachs Group dropped their price objective on shares of Hyzon Motors from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, March 24th. Zacks Investment Research raised shares of Hyzon Motors from a “sell” rating to a “hold” rating in a report on Friday, March 11th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $6.00 price target (down previously from $12.00) on shares of Hyzon Motors in a report on Wednesday, April 6th. Finally, DA Davidson lowered their price target on shares of Hyzon Motors from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 25th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.89.

The firm’s 50-day moving average is $4.74 and its two-hundred day moving average is $5.63. The company has a market cap of $1.17 billion, a P/E ratio of -38.58 and a beta of 1.11.

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Hyzon Motors during the first quarter valued at $219,000. Prelude Capital Management LLC grew its holdings in shares of Hyzon Motors by 5.7% in the first quarter. Prelude Capital Management LLC now owns 129,650 shares of the company’s stock worth $828,000 after purchasing an additional 6,950 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Hyzon Motors in the first quarter worth about $16,377,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Hyzon Motors by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 445,725 shares of the company’s stock worth $2,849,000 after purchasing an additional 11,080 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Hyzon Motors by 176.2% in the first quarter. Vanguard Group Inc. now owns 3,589,810 shares of the company’s stock worth $22,938,000 after purchasing an additional 2,290,045 shares during the last quarter. Institutional investors and hedge funds own 17.32% of the company’s stock.

About Hyzon Motors (NASDAQ:HYZN)

Hyzon Motors Inc, a hydrogen mobility company, provides decarbonized solutions for commercial vehicles market and hydrogen supply infrastructure. The company focuses on assembling and supplying hydrogen-powered FCEVs, including heavy-duty (Class 8) trucks, medium-duty (Class 6) trucks, light-duty (Class 3 and 4) trucks, and 40 and 60-foot (12 and18-meter) city and coach buses to commercial vehicle operators; and building and fostering a clean hydrogen supply ecosystem with leading partners from feedstock through hydrogen production, dispensing, and financing.

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