Hyliion Holdings Corp. (NYSE:HYLN) Shares Acquired by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Hyliion Holdings Corp. (NYSE:HYLN – Get Rating) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,141 shares of the company’s stock after purchasing an additional 3,957 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Hyliion were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in HYLN. Valeo Financial Advisors LLC acquired a new position in shares of Hyliion in the second quarter worth about $35,000. LPL Financial LLC acquired a new position in Hyliion in the 2nd quarter worth about $36,000. Bank of Montreal Can purchased a new position in Hyliion during the second quarter worth approximately $71,000. Verition Fund Management LLC acquired a new stake in Hyliion in the first quarter valued at approximately $93,000. Finally, Seelaus Asset Management LLC purchased a new stake in shares of Hyliion in the second quarter valued at approximately $98,000. 29.03% of the stock is owned by hedge funds and other institutional investors.

Hyliion Stock Up 7.1 %

Shares of HYLN opened at $3.16 on Friday. Hyliion Holdings Corp. has a 52-week low of $2.06 and a 52-week high of $4.73. The stock has a market cap of $567.90 million, a PE ratio of -3.59 and a beta of 1.31. The firm’s fifty day moving average is $2.73 and its two-hundred day moving average is $3.13.

Hyliion (NYSE:HYLN – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.14). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.63 million. Hyliion had a negative return on equity of 30.26% and a negative net margin of 12,683.48%. As a group, research analysts anticipate that Hyliion Holdings Corp. will post -0.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Northland Securities started coverage on shares of Hyliion in a research note on Tuesday, November 22nd. They issued an “outperform” rating and a $4.00 price target on the stock. The Goldman Sachs Group cut their target price on shares of Hyliion from $3.00 to $2.25 and set a “sell” rating for the company in a research note on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Hyliion has an average rating of “Hold” and a consensus target price of $3.85.

Insider Activity

In related news, CFO Jon Panzer purchased 11,150 shares of Hyliion stock in a transaction dated Monday, November 14th. The shares were acquired at an average price of $3.00 per share, for a total transaction of $33,450.00. Following the acquisition, the chief financial officer now directly owns 107,644 shares in the company, valued at $322,932. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, COO Dennis M. Gallagher acquired 20,000 shares of Hyliion stock in a transaction that occurred on Wednesday, November 16th. The shares were purchased at an average cost of $3.10 per share, for a total transaction of $62,000.00. Following the acquisition, the chief operating officer now owns 281,119 shares in the company, valued at $871,468.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jon Panzer bought 11,150 shares of the stock in a transaction on Monday, November 14th. The shares were bought at an average cost of $3.00 per share, with a total value of $33,450.00. Following the purchase, the chief financial officer now owns 107,644 shares of the company’s stock, valued at $322,932. The disclosure for this purchase can be found here. Insiders purchased 42,150 shares of company stock worth $130,240 over the last ninety days. Corporate insiders own 24.20% of the company’s stock.

Hyliion Company Profile

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Hyliion Holdings Corp. manufactures hybrid and electric powertrains for trucks. It engages in the provision of hybrid technology to tractor trailers. The company was founded by Thomas Healy in 2015 and is headquartered in Cedar Park, TX.