Hyliion (NYSEAMERICAN:HYLN) Posts Quarterly Earnings Results, Hits Expectations

Hyliion (NYSEAMERICAN:HYLN) posted its quarterly earnings results on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08), FiscalAI reports. The business had revenue of $4.94 million for the quarter, compared to analyst estimates of $2.40 million. Hyliion had a negative net margin of 888.12% and a negative return on equity of 26.05%.

Hyliion Stock Performance

Shares of Hyliion stock traded down $0.01 during midday trading on Tuesday, hitting $3.92. 4,400,797 shares of the company traded hands, compared to its average volume of 2,637,049. The stock has a market cap of $699.05 million, a price-to-earnings ratio of -13.07 and a beta of 3.52. The firm’s fifty day moving average price is $5.07 and its 200-day moving average price is $3.41. Hyliion has a 12 month low of $1.47 and a 12 month high of $8.49.

Hedge Funds Weigh In On Hyliion

Several institutional investors and hedge funds have recently added to or reduced their stakes in HYLN. Cubist Systematic Strategies LLC bought a new stake in shares of Hyliion during the first quarter worth $26,000. CIBC Bancorp USA Inc. bought a new position in shares of Hyliion in the 3rd quarter valued at $26,000. Brevan Howard Capital Management LP acquired a new stake in shares of Hyliion during the 2nd quarter valued at $30,000. XTX Topco Ltd bought a new stake in Hyliion during the 2nd quarter worth $34,000. Finally, Banco BTG Pactual S.A. bought a new stake in Hyliion during the 3rd quarter worth $37,000. Institutional investors own 22.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.