Hyliion (NYSEAMERICAN:HYLN) Shares Down 6% – Here’s What Happened

Shares of Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) dropped 6% during mid-day trading on Thursday . The company traded as low as $3.47 and last traded at $3.4490. Approximately 321,680 shares were traded during trading, a decline of 88% from the average session volume of 2,722,190 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

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

Hyliion Trading Down 1.2%

The firm’s 50-day moving average is $4.49 and its 200-day moving average is $3.50. The firm has a market cap of $593.84 million, a price-to-earnings ratio of -11.10 and a beta of 3.52.

Hyliion (NYSEAMERICAN:HYLN) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.08) earnings per share 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 firm had revenue of $4.94 million for the quarter, compared to the consensus estimate of $2.40 million. Analysts forecast that Hyliion Holdings Corp. will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyliion

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new position in Hyliion during the 3rd quarter valued at about $26,000. Hsbc Holdings PLC purchased a new stake in shares of Hyliion in the first quarter worth approximately $27,000. Cubist Systematic Strategies LLC bought a new position in shares of Hyliion in the first quarter valued at approximately $26,000. Banco BTG Pactual S.A. bought a new position in shares of Hyliion in the third quarter valued at approximately $37,000. Finally, Savant Capital LLC purchased a new position in shares of Hyliion during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 22.81% of the company’s stock.

Hyliion Company Profile

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.