Hyliion (NYSEAMERICAN:HYLN) Trading Up 6.8% – What’s Next?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s stock price shot up 6.8% on Tuesday . The stock traded as high as $5.11 and last traded at $5.1170. Approximately 428,688 shares were traded during trading, a decline of 83% from the average daily volume of 2,566,799 shares. The stock had previously closed at $4.79.

Analyst Ratings Changes

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

Hyliion Stock Down 11.3%

The stock has a market capitalization of $823.88 million, a price-to-earnings ratio of -15.40 and a beta of 3.47. The stock’s 50-day simple moving average is $4.97 and its 200 day simple moving average is $3.03.

Institutional Investors Weigh In On Hyliion

A number of large investors have recently bought and sold shares of HYLN. CIBC Bancorp USA Inc. acquired a new position in Hyliion in the third quarter worth $26,000. Hsbc Holdings PLC acquired a new stake in shares of Hyliion in the first quarter valued at $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Hyliion in the first quarter valued at $26,000. Banco BTG Pactual S.A. bought a new position in shares of Hyliion in the third quarter valued at about $37,000. Finally, Savant Capital LLC bought a new position in shares of Hyliion in the fourth quarter valued at about $37,000. 22.81% of the stock is currently owned by institutional investors.

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.