Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up - Time to Buy?

Key Points

• Hyliion shares gapped up before trading, opening at $4.29 after closing at $3.93 and last trading around $4.50 on heavy volume of 1.6 million shares.
• Needham & Company initiated coverage with a Buy rating and a $9 price target, while the stock’s consensus rating remains Moderate Buy with a $7 target.
• Hyliion remains a small, volatile company with a negative P/E, a beta of 3.47, and ongoing institutional interest; it develops electrified powertrain solutions for Class 8 commercial vehicles.

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $3.93, but opened at $4.29. Hyliion shares last traded at $4.5010, with a volume of 1,609,726 shares.

Analyst Ratings Changes

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

Hyliion Stock Performance

The business's fifty day moving average price is $5.50 and its two-hundred day moving average price is $3.25. The stock has a market capitalization of $737.22 million, a P/E ratio of -13.87 and a beta of 3.47.

Institutional Investors Weigh In On Hyliion

Several large investors have recently added to or reduced their stakes in the stock. Apella Capital LLC raised its position in Hyliion by 56.9% during the second quarter. Apella Capital LLC now owns 33,030 shares of the company's stock valued at $172,000 after purchasing an additional 11,972 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Hyliion by 48.8% in the 1st quarter. Renaissance Technologies LLC now owns 318,600 shares of the company's stock worth $561,000 after purchasing an additional 104,500 shares during the period. Cetera Investment Advisers boosted 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 worth $167,000 after purchasing an additional 20,956 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Hyliion by 34.1% during 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 during the last quarter. Finally, Angeles Wealth Management LLC bought a new position in shares of Hyliion during the 1st quarter valued at approximately $44,000. 22.81% of the stock is owned by institutional investors.

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.

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