Hyliion (NYSE:HYLN) Stock Price Down 0.5%

Posted by on Apr 11th, 2023

Shares of Hyliion Holdings Corp. (NYSE:HYLN – Get Rating) traded down 0.5% on Monday . The stock traded as low as $1.80 and last traded at $1.82. 1,337,345 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 1,261,605 shares. The stock had previously closed at $1.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Hyliion from $2.25 to $2.50 and gave the stock a “sell” rating in a research note on Monday, March 6th. UBS Group lowered their price objective on Hyliion from $3.50 to $3.25 and set a “neutral” rating for the company in a research report on Thursday, March 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.69.

Hyliion Stock Performance

The stock has a market cap of $327.58 million, a price-to-earnings ratio of -2.09 and a beta of 1.45. The business’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $2.72.

Hyliion (NYSE:HYLN – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. The firm had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $0.65 million. Hyliion had a negative net margin of 7,281.91% and a negative return on equity of 32.29%. As a group, analysts forecast that Hyliion Holdings Corp. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyliion

Hedge funds have recently modified their holdings of the business. Versor Investments LP lifted its position in shares of Hyliion by 98.6% during the 3rd quarter. Versor Investments LP now owns 153,500 shares of the company’s stock worth $441,000 after buying an additional 76,200 shares during the period. General Electric Co. bought a new position in Hyliion in the third quarter valued at about $15,785,000. Renaissance Technologies LLC raised its stake in shares of Hyliion by 16.0% during the third quarter. Renaissance Technologies LLC now owns 1,862,053 shares of the company’s stock worth $5,344,000 after buying an additional 256,253 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Hyliion in the 3rd quarter valued at approximately $64,000. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Hyliion by 66.0% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,860 shares of the company’s stock valued at $25,000 after buying an additional 3,524 shares in the last quarter. 29.03% of the stock is owned by institutional investors.

About Hyliion

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Hyliion Holdings Corp. manufactures hybrid and electric powertrains for trucks. It engages in the provision of hybrid technology to tractor trailers. The company was founded by Thomas Healy in 2015 and is headquartered in Cedar Park, TX.

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