Hyliion (NYSEAMERICAN:HYLN) Now Covered by Analysts at Craig Hallum

Research analysts at Craig Hallum began coverage on shares of Hyliion (NYSEAMERICAN:HYLN) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $7.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 76.77% from the company’s current price.

Several other analysts have also recently commented on the company. Needham & Company LLC assumed coverage on Hyliion in a report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 target price on the stock. Northland Securities upgraded shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Hyliion has a consensus rating of “Buy” and a consensus price target of $7.75.

Hyliion Trading Down 6.2%

Shares of HYLN opened at $3.96 on Tuesday. The company has a market capitalization of $707.26 million, a PE ratio of -13.20 and a beta of 3.54. Hyliion has a 12 month low of $1.56 and a 12 month high of $8.49. The stock’s 50-day moving average price is $3.81 and its two-hundred day moving average price is $3.84.

Hyliion (NYSEAMERICAN:HYLN) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $4.94 million during the quarter, compared to analysts’ expectations of $2.40 million. Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%. Equities research analysts predict that Hyliion will post -0.31 EPS for the current fiscal year.

Insider Activity

In related news, Director Vincent Cubbage bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $3.40 per share, for a total transaction of $170,000.00. Following the transaction, the director directly owned 1,131,363 shares of the company’s stock, valued at approximately $3,846,634.20. The trade was a 4.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Hyliion

Several hedge funds and other institutional investors have recently bought and sold shares of HYLN. NewEdge Advisors LLC lifted its holdings in shares of Hyliion by 6,166.7% in the second quarter. NewEdge Advisors LLC now owns 7,520 shares of the company’s stock valued at $39,000 after purchasing an additional 7,400 shares in the last quarter. Apella Capital LLC grew its holdings in Hyliion by 56.9% during the second quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock worth $172,000 after buying an additional 11,972 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Hyliion during the 2nd quarter worth $63,000. Hsbc Holdings PLC bought a new stake in shares of Hyliion in the 1st quarter worth $27,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Hyliion by 8,348.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 20,107 shares of the company’s stock worth $37,000 after acquiring an additional 19,869 shares in the last quarter. 22.81% of the stock is owned by institutional investors.

About Hyliion

Hyliion Holdings Corp. develops sustainable power-generation technologies designed to support the transition to lower-emission energy systems. The company’s primary technology is the KARNO generator, a fuel-flexible generator platform intended to convert a range of fuels into electricity for stationary and mobile applications. Its design uses additive manufacturing and advanced materials to support efficient, modular power generation.

Hyliion initially focused on electrifying commercial transportation.