Hyliion (NYSE:HYLN) Shares Up 3.3% – Here’s Why

Hyliion Holdings Corp. (NYSE:HYLN) shares were up 3.3% during mid-day trading on Tuesday . The company traded as high as $1.94 and last traded at $1.90. Approximately 916,409 shares changed hands during trading, a decline of 4% from the average daily volume of 954,692 shares. The stock had previously closed at $1.84.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Hyliion from a “sell” rating to a “hold” rating in a report on Sunday, December 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Hyliion Trading Up 3.3%

The stock’s fifty day moving average is $1.94 and its two-hundred day moving average is $2.00. The firm has a market cap of $337.84 million, a P/E ratio of -5.13 and a beta of 2.67.

Institutional Investors Weigh In On Hyliion

Several hedge funds have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. bought a new stake in Hyliion during the fourth quarter valued at approximately $1,586,000. Osbon Capital Management LLC bought a new stake in Hyliion during the fourth quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd raised its position in Hyliion by 8,348.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 20,107 shares of the company’s stock valued at $37,000 after purchasing an additional 19,869 shares in the last quarter. Invesco Ltd. raised its position in Hyliion by 76.3% during the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock valued at $11,507,000 after purchasing an additional 2,706,803 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Hyliion by 103.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 68,142 shares of the company’s stock valued at $125,000 after purchasing an additional 34,645 shares in the last quarter. 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.