Hyliion (NYSEAMERICAN:HYLN) Director Purchases 50,000 Shares of Stock

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) Director Vincent Cubbage purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $3.40 per share, for a total transaction of $170,000.00. Following the purchase, the director directly owned 1,131,363 shares in the company, valued at $3,846,634.20. This trade represents a 4.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hyliion Trading Up 2.7%

NYSEAMERICAN:HYLN traded up $0.09 on Thursday, reaching $3.41. The stock had a trading volume of 1,546,823 shares, compared to its average volume of 2,720,796. The company has a 50-day moving average of $4.24 and a 200 day moving average of $3.54. The stock has a market cap of $609.03 million, a P/E ratio of -11.37 and a beta of 3.52. Hyliion Holdings Corp. has a 12-month low of $1.56 and a 12-month high of $8.49.

Hyliion (NYSEAMERICAN:HYLN) last announced its earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%.The business had revenue of $4.94 million for the quarter, compared to analyst estimates of $2.40 million. On average, equities analysts predict that Hyliion Holdings Corp. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HYLN shares. Needham & Company LLC initiated coverage on Hyliion in a report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price objective on the stock. Northland Securities upgraded Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 target price for the company in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Hyliion currently has an average rating of “Buy” and a consensus target price of $8.00.

Institutional Investors Weigh In On Hyliion

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of Hyliion by 76.3% in the 4th quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock worth $11,507,000 after acquiring an additional 2,706,803 shares in the last quarter. HITE Hedge Asset Management LLC raised its position in shares of Hyliion by 121.9% during the 4th quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock valued at $5,203,000 after acquiring an additional 1,553,626 shares in the last quarter. Millennium Management LLC raised its position in shares of Hyliion by 27.4% during the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after acquiring an additional 1,355,951 shares in the last quarter. J. Derek Lewis & Associates Inc. bought a new position in Hyliion during the fourth quarter worth $1,586,000. Finally, Marshall Wace LLP bought a new position in Hyliion during the second quarter worth $386,000. Institutional investors own 22.81% of the company’s stock.

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.