Hyliion (NYSEAMERICAN:HYLN) Trading Down 6.7% – Time to Sell?

Shares of Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) traded down 6.7% on Friday . The company traded as low as $3.82 and last traded at $3.8450. Approximately 373,220 shares changed hands during trading, a decline of 86% from the average daily volume of 2,632,874 shares. The stock had previously closed at $4.12.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC assumed coverage on shares of Hyliion in a report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 price target on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Hyliion Price Performance

The firm has a market cap of $676.76 million, a P/E ratio of -12.68 and a beta of 3.47. The firm’s 50-day moving average price is $5.51 and its 200 day moving average price is $3.27.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Millennium Management LLC grew its position in shares of Hyliion by 27.4% in the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock worth $8,814,000 after acquiring an additional 1,355,951 shares in the last quarter. Invesco Ltd. boosted its holdings in Hyliion by 76.3% in the fourth 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 during the period. State Street Corp boosted its holdings in Hyliion by 0.8% in the fourth quarter. State Street Corp now owns 3,036,081 shares of the company’s stock worth $5,586,000 after purchasing an additional 22,963 shares during the period. Geode Capital Management LLC increased its stake in Hyliion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock valued at $5,472,000 after purchasing an additional 59,019 shares during the last quarter. Finally, HITE Hedge Asset Management LLC increased its stake in Hyliion by 121.9% during the fourth 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 during the last quarter. 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.