Hyliion (NYSEAMERICAN:HYLN) Issues Quarterly Earnings Results

Key Points

• Hyliion met earnings expectations, reporting a quarterly loss of $0.08 per share, while revenue of $4.94 million exceeded the $2.40 million consensus estimate. The company continued to report a negative net margin and return on equity.
• Shares declined 0.3% to $3.92, with the stock trading well below its 50-day moving average of $5.07 but above its 12-month low of $1.47.
• Institutional investors increased their positions, and analysts maintain a “Moderate Buy” consensus rating with a $7.00 average price target; Needham initiated coverage with a $9.00 target.

Hyliion (NYSEAMERICAN:HYLN - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08), FiscalAI reports. Hyliion had a negative return on equity of 26.05% and a negative net margin of 888.12%.The business had revenue of $4.94 million during the quarter, compared to the consensus estimate of $2.40 million.

Hyliion Trading Down 0.3%

HYLN traded down $0.01 on Tuesday, reaching $3.92. The stock had a trading volume of 3,454,318 shares, compared to its average volume of 2,636,330. The company has a market cap of $699.05 million, a P/E ratio of -13.07 and a beta of 3.52. Hyliion has a 12-month low of $1.47 and a 12-month high of $8.49. The business's 50-day moving average price is $5.07 and its two-hundred day moving average price is $3.41.

Institutional Trading of Hyliion

A number of institutional investors and hedge funds have recently made changes to their positions in HYLN. Invesco Ltd. lifted its position in shares of Hyliion by 76.3% during the 4th quarter. Invesco Ltd. now owns 6,253,598 shares of the company's stock valued at $11,507,000 after buying an additional 2,706,803 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Hyliion by 103.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 68,142 shares of the company's stock valued at $125,000 after purchasing an additional 34,645 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Hyliion in the fourth quarter valued at about $93,000. Barclays PLC raised its position in shares of Hyliion by 10.1% during the 4th quarter. Barclays PLC now owns 193,155 shares of the company's stock worth $355,000 after purchasing an additional 17,747 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Hyliion by 0.8% during the fourth quarter. State Street Corp now owns 3,036,081 shares of the company's stock valued at $5,586,000 after acquiring an additional 22,963 shares during the last quarter. 22.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Needham & Company LLC initiated coverage on Hyliion in a research report on Wednesday, June 10th. They set a "buy" rating and a $9.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Hyliion presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source