Hyliion (NYSE:HYLN) Trading 4% Higher

Hyliion Holdings Corp. (NYSE:HYLN)’s stock price rose 4% during trading on Tuesday . The stock traded as high as $1.31 and last traded at $1.30. Approximately 1,187,624 shares were traded during trading, a decline of 18% from the average daily volume of 1,455,349 shares. The stock had previously closed at $1.25.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reduced their price objective on Hyliion from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, August 10th. The Goldman Sachs Group reduced their target price on shares of Hyliion from $1.75 to $1.25 and set a “sell” rating on the stock in a report on Monday, August 14th.

Hyliion Stock Performance

The firm has a market capitalization of $226.53 million, a PE ratio of -1.41 and a beta of 1.49. The firm has a fifty day moving average of $1.60 and a 200 day moving average of $1.81.

Hyliion (NYSE:HYLN) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The firm had revenue of $0.27 million for the quarter, compared to analysts’ expectations of $0.47 million. Hyliion had a negative net margin of 7,227.28% and a negative return on equity of 38.38%. Research analysts forecast that Hyliion Holdings Corp. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyliion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Hyliion by 0.8% in the third quarter. Vanguard Group Inc. now owns 11,127,254 shares of the company’s stock worth $31,936,000 after acquiring an additional 92,392 shares in the last quarter. BlackRock Inc. grew its position in shares of Hyliion by 3.5% during the third quarter. BlackRock Inc. now owns 10,149,582 shares of the company’s stock worth $29,130,000 after buying an additional 342,867 shares in the last quarter. State Street Corp increased its stake in shares of Hyliion by 2.2% in the second quarter. State Street Corp now owns 3,164,107 shares of the company’s stock worth $5,284,000 after buying an additional 67,541 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Hyliion by 550.3% in the first quarter. Renaissance Technologies LLC now owns 2,932,200 shares of the company’s stock valued at $12,990,000 after acquiring an additional 2,481,276 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Hyliion by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,707,052 shares of the company’s stock valued at $4,521,000 after acquiring an additional 198,864 shares during the last quarter. 26.85% of the stock is owned by hedge funds and other institutional investors.

Hyliion Company Profile

Hyliion Holdings Corp. designs, develops, and sells electrified powertrain solutions for the commercial vehicle industry. It offers battery management systems for hybrid and fully electric vehicle applications; and battery packs. The company was founded in 2015 and is headquartered in Cedar Park, Texas.