Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up Following Insider Buying Activity

Key Points

• Hyliion shares jumped 6.2%, opening at $3.73 versus a prior close of $3.41, after director Vincent T. Cubbage purchased 50,000 shares worth $170,000.
• Analysts remain positive, with a consensus “Buy” rating and an average price target of $8.00; Needham and Northland set targets of $9.00 and $10.00, respectively.
• Hyliion reported quarterly revenue of $4.94 million, exceeding the $2.40 million estimate, though it remained unprofitable with negative margins and analysts expect a full-year loss of $0.31 per share.

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN - Get Free Report)'s stock price gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $3.41, but opened at $3.73. Hyliion shares last traded at $3.68, with a volume of 458,204 shares changing hands.

Specifically, Director Vincent T. Cubbage bought 50,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was bought at an average cost of $3.40 per share, with a total value of $170,000.00. Following the purchase, the director owned 1,131,363 shares of the company's stock, valued at approximately $3,846,634.20. This represents a 4.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC began coverage on Hyliion in a research note on Wednesday, June 10th. They issued a "buy" rating and a $9.00 price target for the company. Northland Securities upgraded shares of Hyliion from a "market perform" rating to an "outperform" rating and set a $10.00 price objective for the company in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $8.00.

Hyliion Trading Up 6.2%

The firm has a market capitalization of $646.53 million, a price-to-earnings ratio of -12.07 and a beta of 3.52. The company's 50 day moving average is $4.14 and its 200-day moving average is $3.55.

Hyliion (NYSEAMERICAN:HYLN - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The firm had revenue of $4.94 million for the quarter, compared to the consensus estimate of $2.40 million. Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.94%. Research analysts expect that Hyliion Holdings Corp. will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HYLN. Invesco Ltd. increased its position in Hyliion by 76.3% during the 4th quarter. Invesco Ltd. now owns 6,253,598 shares of the company's stock worth $11,507,000 after purchasing an additional 2,706,803 shares in the last quarter. HITE Hedge Asset Management LLC grew its holdings in Hyliion by 121.9% during 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 during the period. Millennium Management LLC increased its holdings in Hyliion by 27.4% in the first quarter. Millennium Management LLC now owns 6,295,760 shares of the company's stock worth $8,814,000 after purchasing an additional 1,355,951 shares in the last quarter. J. Derek Lewis & Associates Inc. bought a new stake in shares of Hyliion in the 4th quarter valued at $1,586,000. Finally, Marshall Wace LLP acquired a new position in shares of Hyliion during the second quarter valued at about $386,000. 22.81% of the stock is owned by institutional investors.

About Hyliion

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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