Hyliion (NYSEAMERICAN:HYLN) Trading Up 9.6% - Here's What Happened

Key Points

• Hyliion shares rose 9.6% to about $4.04 in Tuesday trading, although volume was 64% below the stock’s average daily level.
• Analyst sentiment is favorable: Northland Securities upgraded the stock to “outperform,” while the three analysts covering Hyliion collectively have a “Buy” rating and an average price target of $8.00.
• Hyliion matched quarterly EPS expectations at a loss of $0.08 but exceeded revenue estimates, reporting $4.94 million versus the expected $2.40 million; a company director also bought 50,000 shares.

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN - Get Free Report)'s stock price was up 9.6% on Tuesday . The stock traded as high as $4.04 and last traded at $4.0440. 972,505 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 2,676,540 shares. The stock had previously closed at $3.69.

Analysts Set New Price Targets

HYLN has been the subject of several recent research reports. Northland Securities upgraded shares of Hyliion from a "market perform" rating to an "outperform" rating and set a $10.00 target price for the company in a research report on Thursday, August 13th. Needham & Company LLC started coverage on shares of Hyliion in a research note on Wednesday, June 10th. They set a "buy" rating and a $9.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $8.00.

Hyliion Stock Up 9.6%

The stock has a market cap of $722.44 million, a P/E ratio of -13.48 and a beta of 3.54. The firm has a 50 day moving average price of $3.83 and a 200 day moving average price of $3.62.

Hyliion (NYSEAMERICAN:HYLN - Get Free Report) last released its 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 27.94%. The company had revenue of $4.94 million during the quarter, compared to analyst estimates of $2.40 million. Equities analysts predict that Hyliion Holdings Corp. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hyliion news, Director Vincent Cubbage acquired 50,000 shares of the stock in a transaction on Thursday, August 27th. The stock was acquired at an average price of $3.40 per share, for a total transaction of $170,000.00. Following the completion of the transaction, the director directly owned 1,131,363 shares of the company's stock, valued at $3,846,634.20. This trade represents a 4.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.40% of the company's stock.

Hedge Funds Weigh In On Hyliion

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in Hyliion by 76.3% in the fourth 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 position 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 buying an additional 1,553,626 shares during the last quarter. Millennium Management LLC raised its stake in shares of 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 in the last quarter. J. Derek Lewis & Associates Inc. bought a new position in shares of Hyliion during the 4th quarter worth approximately $1,586,000. Finally, Marshall Wace LLP purchased a new stake in Hyliion during the second quarter valued at approximately $386,000. 22.81% of the stock is currently 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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