Hyliion (NYSEAMERICAN:HYLN) Trading 9.6% Higher – Time to Buy?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s share price shot up 9.6% on Tuesday . The stock traded as high as $4.04 and last traded at $4.0440. Approximately 972,505 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,676,540 shares. The stock had previously closed at $3.69.

Wall Street Analysts Forecast Growth

HYLN has been the topic of several analyst reports. Needham & Company LLC started coverage on shares of Hyliion in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price target on the stock. Northland Securities upgraded Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hyliion currently has an average rating of “Buy” and an average price target of $8.00.

Hyliion Trading Down 3.5%

The stock has a market capitalization of $689.40 million, a PE ratio of -12.87 and a beta of 3.54. The firm’s fifty day moving average is $3.79 and its 200-day moving average is $3.65.

Hyliion (NYSEAMERICAN:HYLN) last announced its earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.94%. The company had revenue of $4.94 million during the quarter, compared to analyst estimates of $2.40 million. As a group, equities analysts predict that Hyliion Holdings Corp. will post -0.31 EPS for the current year.

Insider Buying and Selling at Hyliion

In related news, Director Vincent Cubbage acquired 50,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $3.40 per share, with a total value of $170,000.00. Following the transaction, the director owned 1,131,363 shares of the company’s stock, valued at approximately $3,846,634.20. This trade represents a 4.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.40% of the company’s stock.

Institutional Trading of Hyliion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HYLN. Deutsche Bank AG boosted its position in shares of Hyliion by 3.2% during the fourth quarter. Deutsche Bank AG now owns 187,016 shares of the company’s stock worth $344,000 after buying an additional 5,873 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Hyliion by 6,166.7% in the 2nd quarter. NewEdge Advisors LLC now owns 7,520 shares of the company’s stock valued at $39,000 after buying an additional 7,400 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Hyliion by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 76,835 shares of the company’s stock valued at $101,000 after buying an additional 7,574 shares during the period. Alliancebernstein L.P. lifted its stake in Hyliion by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 152,020 shares of the company’s stock worth $299,000 after acquiring an additional 10,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Hyliion by 15.1% during the 1st quarter. AQR Capital Management LLC now owns 76,957 shares of the company’s stock worth $108,000 after acquiring an additional 10,076 shares in the last quarter. Hedge funds and other institutional investors own 22.81% of the company’s stock.

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.