Hyliion (NYSEAMERICAN:HYLN) Reaches New 1-Year High – Time to Buy?

Shares of Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.22 and last traded at $7.8170, with a volume of 1116029 shares changing hands. The stock had previously closed at $7.40.

Analyst Ratings Changes

Separately, Needham & Company LLC initiated coverage on shares of Hyliion in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Hyliion Stock Down 0.3%

The company has a market cap of $1.32 billion, a price-to-earnings ratio of -24.61 and a beta of 3.41. The company’s fifty day moving average price is $3.83 and its two-hundred day moving average price is $2.63.

Hedge Funds Weigh In On Hyliion

Several institutional investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. bought a new stake in shares of Hyliion during the third quarter worth $26,000. Cubist Systematic Strategies LLC bought a new position in shares of Hyliion in the first quarter valued at about $26,000. Hsbc Holdings PLC acquired a new position in Hyliion during the 1st quarter worth about $27,000. Brevan Howard Capital Management LP bought a new stake in Hyliion during the 2nd quarter worth about $30,000. Finally, XTX Topco Ltd bought a new stake in Hyliion during the 2nd quarter worth about $34,000. Institutional investors own 22.81% of the company’s stock.

Hyliion Company Profile

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.