Johnson Rice Initiates Coverage on Hyliion (NYSE:HYLN)

Stock analysts at Johnson Rice initiated coverage on shares of Hyliion (NYSE:HYLN) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $5.00 price target on the stock. Johnson Rice’s target price indicates a potential upside of 147.52% from the company’s current price.

A number of other equities research analysts have also weighed in on HYLN. Zacks Research upgraded Hyliion from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Hyliion from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Hyliion Trading Down 6.0%

Shares of Hyliion stock opened at $2.02 on Tuesday. The firm’s 50 day moving average is $1.92 and its 200 day moving average is $1.63. The firm has a market capitalization of $354.38 million, a PE ratio of -5.46 and a beta of 2.51. Hyliion has a 1 year low of $1.11 and a 1 year high of $4.09.

Insider Buying and Selling at Hyliion

In related news, Director Richard Joseph Freeland bought 65,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were bought at an average price of $1.57 per share, with a total value of $102,050.00. Following the completion of the transaction, the director directly owned 222,798 shares in the company, valued at approximately $349,792.86. This represents a 41.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. O ROURKE & COMPANY Inc boosted its position in Hyliion by 50.0% in the third quarter. O ROURKE & COMPANY Inc now owns 20,006 shares of the company’s stock worth $39,000 after purchasing an additional 6,670 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in Hyliion during the 3rd quarter valued at about $60,000. Headlands Technologies LLC bought a new stake in Hyliion during the 2nd quarter worth approximately $57,000. Bridgeway Capital Management LLC increased its holdings in shares of Hyliion by 211.8% in the second quarter. Bridgeway Capital Management LLC now owns 132,500 shares of the company’s stock worth $175,000 after purchasing an additional 90,000 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in Hyliion in the 2nd quarter worth about $30,000. 22.81% of the stock is currently owned by hedge funds and other institutional investors.

Hyliion Company Profile