Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up – What’s Next?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares gapped up prior to trading on Monday . The stock had previously closed at $3.87, but opened at $4.20. Hyliion shares last traded at $4.0650, with a volume of 953,843 shares traded.

Analyst Upgrades and Downgrades

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

Hyliion Stock Up 1.4%

The stock has a market capitalization of $699.95 million, a P/E ratio of -13.05 and a beta of 3.52. The firm has a 50-day moving average of $5.12 and a 200 day moving average of $3.40.

Institutional Trading of Hyliion

Several institutional investors have recently made changes to their positions in HYLN. CIBC Bancorp USA Inc. bought a new stake in Hyliion in the third quarter valued at about $26,000. Hsbc Holdings PLC acquired a new stake in Hyliion during the first quarter valued at approximately $27,000. Cubist Systematic Strategies LLC acquired a new stake in Hyliion during the first quarter valued at approximately $26,000. Banco BTG Pactual S.A. bought a new stake in shares of Hyliion in the 3rd quarter valued at approximately $37,000. Finally, Savant Capital LLC bought a new stake in shares of Hyliion in the 4th quarter valued at approximately $37,000. 22.81% of the stock is currently owned by institutional investors and hedge funds.

About Hyliion

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.