J. Derek Lewis & Associates Inc. Acquires New Holdings in Hyliion Holdings Corp. $HYLN

J. Derek Lewis & Associates Inc. acquired a new position in Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 861,900 shares of the company’s stock, valued at approximately $1,586,000. J. Derek Lewis & Associates Inc. owned approximately 0.48% of Hyliion as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of Hyliion by 27.4% in the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after acquiring an additional 1,355,951 shares during the period. Invesco Ltd. boosted its position in Hyliion by 76.3% during the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock valued at $11,507,000 after purchasing an additional 2,706,803 shares in the last quarter. State Street Corp grew its stake in Hyliion by 0.8% in the fourth quarter. State Street Corp now owns 3,036,081 shares of the company’s stock valued at $5,586,000 after purchasing an additional 22,963 shares during the last quarter. Geode Capital Management LLC grew its stake in Hyliion by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock valued at $5,472,000 after purchasing an additional 59,019 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in Hyliion by 121.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock worth $5,203,000 after purchasing an additional 1,553,626 shares in the last quarter. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC started coverage on shares of Hyliion in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Hyliion Stock Performance

Shares of HYLN opened at $8.10 on Friday. Hyliion Holdings Corp. has a 12 month low of $1.30 and a 12 month high of $8.49. The stock has a fifty day moving average price of $4.43 and a 200-day moving average price of $2.83. The firm has a market cap of $1.44 billion, a PE ratio of -27.00 and a beta of 3.43.

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.