Zacks: Analysts Expect Hyzon Motors Inc. (NASDAQ:HYZN) to Post -$0.10 Earnings Per Share

Posted by on Jun 7th, 2022

Brokerages forecast that Hyzon Motors Inc. (NASDAQ:HYZN – Get Rating) will post ($0.10) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Hyzon Motors’ earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.11). Hyzon Motors also reported earnings of ($0.10) per share during the same quarter last year. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Hyzon Motors will report full year earnings of ($0.36) per share for the current fiscal year, with EPS estimates ranging from ($0.37) to ($0.35). For the next year, analysts anticipate that the firm will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.39) to ($0.17). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Hyzon Motors.

Hyzon Motors (NASDAQ:HYZN – Get Rating) last released its quarterly earnings results on Friday, May 6th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). The company had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $8.10 million.

A number of brokerages have issued reports on HYZN. Canaccord Genuity Group restated a “hold” rating and issued a $6.00 price objective (down previously from $12.00) on shares of Hyzon Motors in a research note on Wednesday, April 6th. DA Davidson reduced their price objective on Hyzon Motors from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 25th. Morgan Stanley began coverage on Hyzon Motors in a research note on Tuesday, February 15th. They issued an “equal weight” rating and a $7.00 price objective for the company. Zacks Investment Research upgraded Hyzon Motors from a “sell” rating to a “hold” rating in a research note on Friday, March 11th. Finally, Wedbush reduced their price objective on Hyzon Motors from $15.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, March 25th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Hyzon Motors currently has a consensus rating of “Hold” and a consensus price target of $10.89.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tuttle Capital Management LLC boosted its stake in Hyzon Motors by 19.1% in the 1st quarter. Tuttle Capital Management LLC now owns 27,990 shares of the company’s stock worth $97,000 after purchasing an additional 4,490 shares during the period. Advisor Group Holdings Inc. bought a new position in Hyzon Motors in the 3rd quarter worth about $32,000. Wedbush Securities Inc. boosted its stake in Hyzon Motors by 52.4% in the 4th quarter. Wedbush Securities Inc. now owns 16,000 shares of the company’s stock worth $104,000 after purchasing an additional 5,500 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Hyzon Motors by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 434,645 shares of the company’s stock worth $2,821,000 after purchasing an additional 5,662 shares during the period. Finally, Prelude Capital Management LLC raised its holdings in shares of Hyzon Motors by 5.7% in the 1st quarter. Prelude Capital Management LLC now owns 129,650 shares of the company’s stock valued at $828,000 after acquiring an additional 6,950 shares in the last quarter. Institutional investors and hedge funds own 17.32% of the company’s stock.

NASDAQ HYZN traded down $0.02 on Monday, reaching $4.86. The company had a trading volume of 1,863,299 shares, compared to its average volume of 2,223,558. The stock has a market capitalization of $1.20 billion, a P/E ratio of -40.50 and a beta of 1.05. The company’s fifty day moving average is $4.60 and its 200 day moving average is $5.52. Hyzon Motors has a 52-week low of $2.85 and a 52-week high of $11.37.

About Hyzon Motors (Get Rating)

Hyzon Motors Inc, a hydrogen mobility company, provides decarbonized solutions for commercial vehicles market and hydrogen supply infrastructure. The company focuses on assembling and supplying hydrogen-powered FCEVs, including heavy-duty (Class 8) trucks, medium-duty (Class 6) trucks, light-duty (Class 3 and 4) trucks, and 40 and 60-foot (12 and18-meter) city and coach buses to commercial vehicle operators; and building and fostering a clean hydrogen supply ecosystem with leading partners from feedstock through hydrogen production, dispensing, and financing.

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Earnings History and Estimates for Hyzon Motors (NASDAQ:HYZN)

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