Hyliion (NYSEAMERICAN:HYLN) Shares Down 8.5% – Should You Sell?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s share price dropped 8.5% during mid-day trading on Wednesday . The company traded as low as $4.74 and last traded at $4.7650. Approximately 2,764,390 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 2,613,381 shares. The stock had previously closed at $5.21.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC started coverage on shares of Hyliion in a report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Hyliion Trading Down 9.0%

The business’s fifty day moving average price is $4.92 and its 200 day moving average price is $3.01. The firm has a market capitalization of $845.46 million, a price-to-earnings ratio of -15.80 and a beta of 3.43.

Hedge Funds Weigh In On Hyliion

A number of hedge funds and other institutional investors have recently made changes to their positions in HYLN. J. Derek Lewis & Associates Inc. purchased a new position in Hyliion in the fourth quarter worth $1,586,000. HITE Hedge Asset Management LLC grew its stake in shares of Hyliion by 121.9% during the 4th quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock worth $5,203,000 after purchasing an additional 1,553,626 shares during the period. Cetera Investment Advisers increased its holdings in shares of Hyliion by 28.3% in the 1st quarter. Cetera Investment Advisers now owns 94,957 shares of the company’s stock valued at $167,000 after purchasing an additional 20,956 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hyliion by 34.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 799,672 shares of the company’s stock valued at $1,406,000 after purchasing an additional 203,451 shares in the last quarter. Finally, Angeles Wealth Management LLC acquired a new stake in shares of Hyliion in the first quarter valued at about $44,000. 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.