Hyliion (NYSEAMERICAN:HYLN) Shares Down 4.9% – Here’s What Happened

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) dropped 4.9% on Tuesday. The stock traded as low as $3.61 and last traded at $3.5750. Approximately 258,864 shares were traded during mid-day trading, a decline of 90% from the average session volume of 2,566,916 shares. The stock had previously closed at $3.76.

Analysts Set New Price Targets

A number of analysts have commented on HYLN shares. Northland Securities upgraded Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Thursday, August 13th. Craig Hallum began coverage on Hyliion in a research report on Tuesday, September 29th. They issued a “buy” rating and a $7.00 price target for the company. Four research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $7.75.

Hyliion Stock Down 3.6%

The firm has a market cap of $647.42 million, a price-to-earnings ratio of -12.08 and a beta of 3.57. The firm has a fifty day moving average price of $3.87 and a 200-day moving average price of $3.99.

Hyliion (NYSEAMERICAN:HYLN) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) 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 net margin of 564.34% and a negative return on equity of 27.94%. Equities research analysts anticipate that Hyliion Holdings Corp. will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Hyliion

In other Hyliion news, Director Vincent Cubbage purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $3.40 per share, with a total value of $170,000.00. Following the transaction, the director owned 1,131,363 shares in the company, valued at approximately $3,846,634.20. This trade represents a 4.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hyliion

A number of large investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in shares of Hyliion by 6,166.7% during the 2nd quarter. NewEdge Advisors LLC now owns 7,520 shares of the company’s stock valued at $39,000 after buying an additional 7,400 shares during the period. Apella Capital LLC lifted its position in Hyliion by 56.9% during the 2nd quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock worth $172,000 after acquiring an additional 11,972 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Hyliion in the 2nd quarter worth approximately $63,000. Hsbc Holdings PLC purchased a new position in Hyliion in the 1st quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Hyliion by 8,348.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 20,107 shares of the company’s stock valued at $37,000 after acquiring an additional 19,869 shares in the last quarter. Institutional investors and hedge funds own 22.81% of the company’s stock.

Hyliion Company Profile

Hyliion Holdings Corp. develops sustainable electricity-generation and powertrain technologies. The company’s primary technology is the KARNO generator, a fuel-agnostic system designed to convert a range of fuels into electricity while supporting lower-emission power generation. Its platform is intended for applications including distributed power, backup generation, microgrids and other stationary or mobile energy needs.

Hyliion has focused on using advanced additive manufacturing and other engineering techniques to produce efficient, flexible generator systems.