Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up – Should You Buy?

Shares of Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) gapped up before the market opened on Monday . The stock had previously closed at $4.42, but opened at $4.72. Hyliion shares last traded at $4.6140, with a volume of 862,613 shares trading hands.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC began coverage on shares of Hyliion in a report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Hyliion Price Performance

The business has a 50-day simple moving average of $4.80 and a 200-day simple moving average of $2.96. The firm has a market capitalization of $860.80 million, a PE ratio of -16.05 and a beta of 3.41.

Hedge Funds Weigh In On Hyliion

Large investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in Hyliion by 3.2% in the fourth quarter. Deutsche Bank AG now owns 187,016 shares of the company’s stock worth $344,000 after buying an additional 5,873 shares during the last quarter. JPMorgan Chase & Co. increased its position in Hyliion by 10.9% during the second quarter. JPMorgan Chase & Co. now owns 76,835 shares of the company’s stock valued at $101,000 after acquiring an additional 7,574 shares during the last quarter. Alliancebernstein L.P. increased its position in Hyliion by 7.0% during the third quarter. Alliancebernstein L.P. now owns 152,020 shares of the company’s stock valued at $299,000 after acquiring an additional 10,000 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Hyliion by 15.1% in the first quarter. AQR Capital Management LLC now owns 76,957 shares of the company’s stock valued at $108,000 after acquiring an additional 10,076 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Hyliion by 12.0% in the third quarter. BNP Paribas Financial Markets now owns 113,231 shares of the company’s stock valued at $223,000 after acquiring an additional 12,160 shares during the period. Institutional investors 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.