Hyliion (NYSEAMERICAN:HYLN) Upgraded at Northland Securities

Key Points

• Northland Securities upgraded Hyliion from “market perform” to “outperform” and set a $10 price target, implying 157.07% upside from the prior close. Needham also initiated coverage with a “buy” rating and a $9 target.
• Hyliion reported quarterly revenue of $4.94 million, exceeding the $2.40 million analyst estimate, while adjusted EPS of $(0.08) matched expectations. Analysts expect a full-year loss of approximately $0.33 per share.
• Institutional investors and hedge funds increased their positions, with such investors owning 22.81% of the stock. Hyliion shares opened at $3.89, with a market capitalization of about $693.7 million.

Hyliion (NYSEAMERICAN:HYLN - Get Free Report) was upgraded by research analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a $10.00 price target on the stock. Northland Securities' price objective points to a potential upside of 157.07% from the stock's previous close.

Separately, Needham & Company LLC initiated coverage on Hyliion in a research report on Wednesday, June 10th. They issued a "buy" rating and a $9.00 price objective for the company. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $8.00.

Hyliion Price Performance

NYSEAMERICAN:HYLN opened at $3.89 on Thursday. Hyliion has a one year low of $1.47 and a one year high of $8.49. The company has a fifty day moving average price of $4.96 and a 200 day moving average price of $3.43. The stock has a market cap of $693.70 million, a P/E ratio of -12.97 and a beta of 3.52.

Hyliion (NYSEAMERICAN:HYLN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.10%. The company had revenue of $4.94 million for the quarter, compared to analyst estimates of $2.40 million. As a group, equities research analysts anticipate that Hyliion will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its stake in Hyliion by 76.3% during the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company's stock worth $11,507,000 after buying an additional 2,706,803 shares during the last quarter. HITE Hedge Asset Management LLC boosted its holdings in shares of Hyliion by 121.9% in the 4th quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company's stock worth $5,203,000 after acquiring an additional 1,553,626 shares in the last quarter. Millennium Management LLC grew its position in Hyliion by 27.4% during 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 during the last quarter. J. Derek Lewis & Associates Inc. bought a new stake in Hyliion during the 4th quarter worth approximately $1,586,000. Finally, Marshall Wace LLP bought a new stake in shares of Hyliion during the second quarter worth $386,000. 22.81% of the stock is currently owned by institutional investors and hedge funds.

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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