Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up – What’s Next?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) gapped up before the market opened on Thursday . The stock had previously closed at $3.93, but opened at $4.29. Hyliion shares last traded at $4.5010, with a volume of 1,609,726 shares traded.

Wall Street Analyst Weigh In

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

Hyliion Stock Up 5.2%

The firm has a market cap of $737.22 million, a P/E ratio of -13.87 and a beta of 3.47. The company’s 50 day simple moving average is $5.50 and its 200-day simple moving average is $3.25.

Institutional Investors Weigh In On Hyliion

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG raised its stake in shares of Hyliion by 3.2% during the fourth quarter. Deutsche Bank AG now owns 187,016 shares of the company’s stock valued at $344,000 after acquiring an additional 5,873 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Hyliion by 10.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 76,835 shares of the company’s stock worth $101,000 after purchasing an additional 7,574 shares during the period. Alliancebernstein L.P. increased its holdings in Hyliion by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 152,020 shares of the company’s stock worth $299,000 after purchasing an additional 10,000 shares during the period. AQR Capital Management LLC raised its position in Hyliion by 15.1% during the 1st quarter. AQR Capital Management LLC now owns 76,957 shares of the company’s stock valued at $108,000 after purchasing an additional 10,076 shares in the last quarter. Finally, Apella Capital LLC raised its position in Hyliion by 56.9% during the 2nd quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock valued at $172,000 after purchasing an additional 11,972 shares in the last quarter. 22.81% of the stock is currently owned by hedge funds and other institutional investors.

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.