Hyliion (NYSEAMERICAN:HYLN) Trading Down 5.7% – Should You Sell?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares dropped 5.7% during trading on Tuesday . The company traded as low as $6.71 and last traded at $6.8110. Approximately 1,886,863 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 2,098,994 shares. The stock had previously closed at $7.22.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC assumed coverage on shares of Hyliion in a research note on Wednesday. They set a “buy” rating and a $9.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.00.

Hyliion Price Performance

The company’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $2.55. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -23.07 and a beta of 3.43.

Institutional Investors Weigh In On Hyliion

Hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Hyliion during the 3rd quarter worth $26,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Hyliion during the 1st quarter worth about $26,000. Hsbc Holdings PLC purchased a new stake in Hyliion during the first quarter worth approximately $27,000. Brevan Howard Capital Management LP acquired a new position in Hyliion in the second quarter valued at approximately $30,000. Finally, XTX Topco Ltd purchased a new position in Hyliion in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 22.81% of the company’s stock.

Hyliion Company Profile

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.