Shares of Hyliion Holdings Corp. (NYSEAMERICAN:HYLN – Get Free Report) shot up 11.6% during mid-day trading on Thursday . The stock traded as high as $7.07 and last traded at $7.21. 1,387,984 shares changed hands during trading, a decline of 28% from the average session volume of 1,932,181 shares. The stock had previously closed at $6.46.
Hyliion Trading Up 16.7%
The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -25.22 and a beta of 3.43. The firm has a 50-day moving average price of $3.08 and a 200-day moving average price of $2.36.
Hedge Funds Weigh In On Hyliion
Hedge funds have recently modified their holdings of the company. CIBC Bancorp USA Inc. acquired a new position in shares of Hyliion during the 3rd quarter valued at $26,000. Hsbc Holdings PLC acquired a new position in shares of Hyliion during the 1st quarter valued at $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of Hyliion during the 1st quarter valued at $26,000. Banco BTG Pactual S.A. acquired a new position in shares of Hyliion during the 3rd quarter valued at $37,000. Finally, Savant Capital LLC acquired a new position in shares of Hyliion during the 4th quarter valued at $37,000. 22.81% of the stock is currently owned by institutional investors and hedge funds.
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.
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