Hyliion (NYSEAMERICAN:HYLN) Announces Quarterly Earnings Results

Hyliion (NYSEAMERICAN:HYLN) announced its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02, FiscalAI reports. The firm had revenue of $7.45 million during the quarter, compared to the consensus estimate of $4.17 million. Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.94%.

Hyliion Price Performance

Hyliion stock traded down $0.15 during midday trading on Tuesday, hitting $2.99. 1,623,843 shares of the stock were exchanged, compared to its average volume of 2,477,650. Hyliion has a 1 year low of $1.56 and a 1 year high of $8.49. The firm has a market cap of $534.01 million, a P/E ratio of -9.97 and a beta of 3.74. The company has a 50 day moving average price of $3.65 and a two-hundred day moving average price of $3.47.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HYLN shares. Craig Hallum initiated coverage on Hyliion in a research report on Tuesday, September 29th. They set a “buy” rating and a $7.00 target price on the stock. Northland Securities raised shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Hyliion currently has an average rating of “Buy” and an average target price of $8.67.

Insiders Place Their Bets

In other news, Director Vincent Cubbage acquired 50,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was bought at an average cost of $3.40 per share, with a total value of $170,000.00. Following the transaction, the director directly owned 1,131,363 shares in the company, valued at approximately $3,846,634.20. This represents a 4.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.40% of the stock is currently owned by insiders.

About Hyliion

Hyliion Holdings Corp. develops sustainable power-generation technologies designed to reduce emissions and improve efficiency across commercial and industrial applications. The company is focused on its KARNO generator, an additive-manufactured, fuel-agnostic generator platform that can operate on a range of fuels, including hydrogen and renewable fuels. The KARNO technology is intended for use in distributed power-generation systems, including stationary and mobile applications. Hyliion has positioned the platform for potential use in data centers, microgrids, commercial facilities, and other settings that require reliable electricity with lower emissions than conventional generators.