Zacks Investment Research Lowers Hyliion (NYSE:HYLN) to Hold

Zacks Investment Research cut shares of Hyliion (NYSE:HYLN) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Hyliion Holdings Corp. provides electrified powertrain solutions for Class 8 commercial vehicle. The company’s solutions utilize its proprietary battery systems, control software and data analytics combined with fully integrated electric motors and power electronics, to produce electrified powertrain systems. Hyliion Holdings Corp., formerly known as Tortoise Acquisition Corp., is based in United States. “

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald started coverage on Hyliion in a report on Thursday, November 11th. They set an overweight rating and a $12.00 target price for the company. Barclays cut Hyliion from an overweight rating to an equal weight rating and decreased their target price for the stock from $12.00 to $7.00 in a report on Thursday, November 11th. Finally, UBS Group cut Hyliion from a neutral rating to a sell rating and decreased their target price for the stock from $14.00 to $5.00 in a report on Monday, October 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $8.85.

NYSE HYLN opened at $5.27 on Wednesday. Hyliion has a 12 month low of $5.08 and a 12 month high of $22.25. The company has a 50-day moving average of $6.50 and a 200-day moving average of $8.09.

Hyliion (NYSE:HYLN) last posted its quarterly earnings data on Tuesday, November 9th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.09. During the same quarter last year, the company posted ($0.48) EPS. On average, analysts expect that Hyliion will post -0.64 earnings per share for the current fiscal year.

In other Hyliion news, Director Robert M. Knight, Jr. bought 10,000 shares of the business’s stock in a transaction on Thursday, December 16th. The shares were bought at an average cost of $6.15 per share, with a total value of $61,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Howard M. Jenkins sold 319,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $7.45, for a total value of $2,381,280.75. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 21,621 shares of company stock valued at $136,031 and sold 950,792 shares valued at $7,350,092. 32.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HYLN. BlackRock Inc. raised its position in shares of Hyliion by 313.1% in the 2nd quarter. BlackRock Inc. now owns 7,555,512 shares of the company’s stock valued at $88,021,000 after purchasing an additional 5,726,555 shares in the last quarter. State Street Corp raised its position in shares of Hyliion by 4,138.0% in the 2nd quarter. State Street Corp now owns 2,521,607 shares of the company’s stock valued at $29,377,000 after purchasing an additional 2,462,107 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Hyliion by 125.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,740,103 shares of the company’s stock valued at $20,272,000 after purchasing an additional 967,790 shares in the last quarter. Northern Trust Corp raised its position in shares of Hyliion by 494.2% in the 2nd quarter. Northern Trust Corp now owns 1,113,847 shares of the company’s stock valued at $12,977,000 after purchasing an additional 926,384 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Hyliion during the 2nd quarter valued at approximately $6,388,000. 27.18% of the stock is currently owned by institutional investors.

Hyliion Company Profile

Hyliion Holdings Corp. manufactures hybrid and electric powertrains for trucks. It engages in the provision of hybrid technology to tractor trailers. The company was founded by Thomas Healy in 2015 and is headquartered in Cedar Park, TX.

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