Craig Hallum Begins Coverage on Hyliion (NYSEAMERICAN:HYLN)

Key Points

• Craig Hallum initiated coverage of Hyliion with a “buy” rating and a $7.00 price target, implying 76.77% upside from the prior close. Analysts overall maintained a consensus “buy” rating with an average target of $7.75.
• Hyliion shares opened at $3.96 and were reported down 6.2%; the company posted quarterly revenue of $4.94 million and an adjusted loss of $0.08 per share, while analysts expect a full-year loss of $0.31 per share.
• Director Vincent Cubbage purchased 50,000 shares at $3.40 each, increasing his holdings by 4.62%. Insiders own 21.40% of the company, while institutional investors and hedge funds own 22.81%.

Investment analysts at Craig Hallum started coverage on shares of Hyliion (NYSEAMERICAN:HYLN - Get Free Report) in a report released on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $7.00 price target on the stock. Craig Hallum's price target would indicate a potential upside of 76.77% from the company's previous close.

A number of other research analysts have also recently issued reports on HYLN. Northland Securities raised shares of Hyliion from a "market perform" rating to an "outperform" rating and set a $10.00 price objective on the stock in a research note on Thursday, August 13th. Needham & Company LLC began coverage on Hyliion in a research note on Wednesday, June 10th. They set a "buy" rating and a $9.00 target price for the company. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $7.75.

Hyliion Stock Down 6.2%

Shares of Hyliion stock opened at $3.96 on Tuesday. Hyliion has a twelve month low of $1.56 and a twelve month high of $8.49. The company has a 50-day simple moving average of $3.81 and a two-hundred day simple moving average of $3.84. The stock has a market capitalization of $707.26 million, a price-to-earnings ratio of -13.20 and a beta of 3.54.

Hyliion (NYSEAMERICAN:HYLN - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.94%. The firm had revenue of $4.94 million for the quarter, compared to analyst estimates of $2.40 million. On average, sell-side analysts anticipate that Hyliion will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vincent Cubbage acquired 50,000 shares of Hyliion stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average price of $3.40 per share, for a total transaction of $170,000.00. Following the transaction, the director directly owned 1,131,363 shares of the company's stock, valued at approximately $3,846,634.20. The trade was a 4.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.40% of the stock is owned by corporate insiders.

Institutional Trading of Hyliion

A number of hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC increased its stake in shares of Hyliion by 6,166.7% in the second 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. Integrated Wealth Concepts LLC acquired a new stake in Hyliion during the 2nd quarter worth approximately $63,000. Hsbc Holdings PLC acquired a new stake in Hyliion during the 1st quarter worth approximately $27,000. Savant Capital LLC bought a new stake in Hyliion during the 4th quarter worth approximately $37,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Hyliion by 8,348.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 20,107 shares of the company's stock worth $37,000 after acquiring an additional 19,869 shares during the last quarter. 22.81% of the stock is owned by institutional investors and hedge funds.

About Hyliion

Hyliion Holdings Corp. develops sustainable power-generation technologies designed to support the transition to lower-emission energy systems. The company's primary technology is the KARNO generator, a fuel-flexible generator platform intended to convert a range of fuels into electricity for stationary and mobile applications. Its design uses additive manufacturing and advanced materials to support efficient, modular power generation.

Hyliion initially focused on electrifying commercial transportation.

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