Hyliion (NYSE:HYLN) Upgraded at Wall Street Zen

Key Points

• Hyliion (NYSE:HYLN) has been upgraded from a "sell" to a "hold" rating by analysts at Wall Street Zen, reflecting a more favorable outlook on the company's stock.
• Insider Richard Joseph Freeland increased his stake in Hyliion by purchasing 65,000 shares at an average price of $1.57, indicating confidence in the company's future performance.
• Multiple institutional investors have significantly increased their holdings, with Squarepoint Ops LLC boosting their position by 492% in the last quarter.

Hyliion (NYSE:HYLN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, Zacks Research upgraded Hyliion from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Hyliion presently has an average rating of "Hold".

Hyliion Trading Up 5.0%

NYSE:HYLN traded up $0.11 during mid-day trading on Friday, hitting $2.20. 288,268 shares of the company's stock traded hands, compared to its average volume of 1,311,221. The firm has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.53. Hyliion has a 12 month low of $1.11 and a 12 month high of $4.09. The firm has a market capitalization of $385.08 million, a price-to-earnings ratio of -5.96 and a beta of 2.31.

Insider Activity at Hyliion

In other news, Director Richard Joseph Freeland acquired 65,000 shares of Hyliion stock in a transaction on Thursday, August 21st. The stock was bought at an average price of $1.57 per share, for a total transaction of $102,050.00. Following the transaction, the director owned 222,798 shares of the company's stock, valued at $349,792.86. The trade was a 41.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 20.90% of the company's stock.

Hedge Funds Weigh In On Hyliion

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in Hyliion in the 1st quarter valued at $26,000. Brevan Howard Capital Management LP bought a new position in Hyliion in the 2nd quarter valued at $30,000. XTX Topco Ltd bought a new position in Hyliion in the 2nd quarter valued at $34,000. Wealth Enhancement Advisory Services LLC bought a new position in Hyliion in the 2nd quarter valued at $44,000. Finally, Headlands Technologies LLC bought a new position in Hyliion in the 2nd quarter valued at $57,000. Institutional investors own 22.81% of the company's stock.

Hyliion Company Profile