Hyliion (NYSEAMERICAN:HYLN) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Hyliion (NYSEAMERICAN:HYLN) posted its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02, FiscalAI reports. The business had revenue of $7.45 million for the quarter, compared to analyst estimates of $4.17 million. Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%.

Hyliion Stock Performance

Shares of NYSEAMERICAN HYLN traded down $0.15 during midday trading on Tuesday, hitting $2.99. 1,633,846 shares of the company traded hands, compared to its average volume of 2,477,650. Hyliion has a 12-month low of $1.56 and a 12-month high of $8.49. The firm has a market cap of $534.01 million, a P/E ratio of -9.97 and a beta of 3.74. The stock has a 50-day moving average price of $3.65 and a 200 day moving average price of $3.47.

Insider Buying and Selling

In other news, Director Vincent Cubbage acquired 50,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average cost of $3.40 per share, with a total value of $170,000.00. Following the transaction, the director owned 1,131,363 shares in the company, valued at $3,846,634.20. The trade was a 4.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 21.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Craig Hallum started coverage on shares of Hyliion in a report on Tuesday, September 29th. They issued a “buy” rating and a $7.00 target price on the stock. Northland Securities raised shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.67.

About Hyliion

Hyliion Holdings Corp. develops sustainable power-generation technologies designed to reduce emissions and improve efficiency across commercial and industrial applications. The company is focused on its KARNO generator, an additive-manufactured, fuel-agnostic generator platform that can operate on a range of fuels, including hydrogen and renewable fuels. The KARNO technology is intended for use in distributed power-generation systems, including stationary and mobile applications. Hyliion has positioned the platform for potential use in data centers, microgrids, commercial facilities, and other settings that require reliable electricity with lower emissions than conventional generators.