Hyliion (NYSEAMERICAN:HYLN) Shares Down 6% – Here’s What Happened

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s share price fell 6% on Thursday . The stock traded as low as $3.47 and last traded at $3.4490. Approximately 321,680 shares changed hands during trading, a decline of 88% from the average daily volume of 2,722,190 shares. The stock had previously closed at $3.67.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HYLN. Northland Securities raised Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research note on Thursday, August 13th. Needham & Company LLC assumed coverage on Hyliion in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $8.00.

Hyliion Stock Performance

The company’s fifty day simple moving average is $4.66 and its 200-day simple moving average is $3.50. The company has a market capitalization of $592.41 million, a P/E ratio of -11.07 and a beta of 3.52.

Hyliion (NYSEAMERICAN:HYLN) last posted its earnings results on Tuesday, August 11th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.94%. The business had revenue of $4.94 million for the quarter, compared to the consensus estimate of $2.40 million. On average, sell-side analysts predict that Hyliion Holdings Corp. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Hyliion

A number of large investors have recently bought and sold shares of HYLN. Apella Capital LLC lifted its holdings in Hyliion by 56.9% during the second quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock worth $172,000 after buying an additional 11,972 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Hyliion by 48.8% in the 1st quarter. Renaissance Technologies LLC now owns 318,600 shares of the company’s stock valued at $561,000 after acquiring an additional 104,500 shares during the period. Cetera Investment Advisers raised its position in shares of Hyliion by 28.3% in the 1st quarter. Cetera Investment Advisers now owns 94,957 shares of the company’s stock worth $167,000 after acquiring an additional 20,956 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hyliion by 34.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 799,672 shares of the company’s stock worth $1,406,000 after acquiring an additional 203,451 shares in the last quarter. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Hyliion during the 1st quarter worth $44,000. Institutional investors own 22.81% of the company’s stock.

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.