Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up – What’s Next?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) gapped up prior to trading on Monday . The stock had previously closed at $3.87, but opened at $4.20. Hyliion shares last traded at $4.0650, with a volume of 953,843 shares traded.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC started coverage on Hyliion in a research note on Wednesday, June 10th. They issued a “buy” rating and a $9.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Hyliion Trading Down 0.3%

The company has a market capitalization of $699.05 million, a price-to-earnings ratio of -13.07 and a beta of 3.52. The stock has a 50-day simple moving average of $5.01 and a 200-day simple moving average of $3.42.

Hyliion (NYSEAMERICAN:HYLN) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $4.94 million during the quarter, compared to the consensus estimate of $2.40 million. Hyliion had a negative net margin of 888.12% and a negative return on equity of 26.05%. On average, research analysts forecast that Hyliion Holdings Corp. will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HYLN. Deutsche Bank AG increased its stake in Hyliion by 3.2% during the fourth quarter. Deutsche Bank AG now owns 187,016 shares of the company’s stock valued at $344,000 after purchasing an additional 5,873 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Hyliion by 10.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 76,835 shares of the company’s stock worth $101,000 after buying an additional 7,574 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Hyliion by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 152,020 shares of the company’s stock worth $299,000 after buying an additional 10,000 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Hyliion by 15.1% in the 1st quarter. AQR Capital Management LLC now owns 76,957 shares of the company’s stock valued at $108,000 after buying an additional 10,076 shares during the period. Finally, Apella Capital LLC boosted its holdings in shares of Hyliion by 56.9% in the 2nd quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock valued at $172,000 after buying an additional 11,972 shares during the period. 22.81% of the stock is owned by institutional investors and hedge funds.

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.