Hyliion (NYSE:HYLN) Trading 9.9% Higher – Here’s Why

Hyliion Holdings Corp. (NYSE:HYLN) was up 9.9% on Wednesday . The stock traded as high as $7.32 and last traded at $7.2550. Approximately 4,678,760 shares changed hands during trading, an increase of 178% from the average daily volume of 1,684,382 shares. The stock had previously closed at $6.60.

Hyliion Price Performance

The company has a fifty day simple moving average of $2.50 and a two-hundred day simple moving average of $2.16. The company has a market capitalization of $1.21 billion, a P/E ratio of -18.40 and a beta of 2.59.

Institutional Investors Weigh In On Hyliion

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of Hyliion by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 596,221 shares of the company’s stock valued at $1,098,000 after purchasing an additional 69,798 shares during the period. Marshall Wace LLP bought a new position in shares of Hyliion in the second quarter worth about $386,000. Deutsche Bank AG increased its stake in shares of Hyliion by 3.2% in the fourth quarter. Deutsche Bank AG now owns 187,016 shares of the company’s stock worth $344,000 after purchasing an additional 5,873 shares during the period. XTX Topco Ltd bought a new position in shares of Hyliion in the fourth quarter worth about $93,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Hyliion in the third quarter worth about $66,000. 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.