Hyliion (NYSEAMERICAN:HYLN) Shares Up 6.8% – Should You Buy?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) was up 6.8% on Tuesday . The company traded as high as $5.11 and last traded at $5.1170. Approximately 428,688 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,566,799 shares. The stock had previously closed at $4.79.

Analysts Set New Price Targets

Separately, Needham & Company LLC assumed coverage on Hyliion in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Hyliion has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Hyliion Stock Performance

The company has a market cap of $899.67 million, a P/E ratio of -16.68 and a beta of 3.41. The firm has a 50 day moving average price of $4.86 and a 200-day moving average price of $2.98.

Institutional Trading of Hyliion

Institutional investors and hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new position in Hyliion in the 3rd quarter valued at $26,000. Cubist Systematic Strategies LLC acquired a new position in Hyliion during the 1st quarter worth $26,000. Hsbc Holdings PLC acquired a new position in Hyliion during the 1st quarter worth $27,000. Brevan Howard Capital Management LP bought a new stake in Hyliion during the second quarter valued at about $30,000. Finally, XTX Topco Ltd bought a new stake in Hyliion during the second quarter valued at about $34,000. 22.81% of the stock is currently owned by institutional investors and hedge funds.

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.