Needham & Company LLC upgraded shares of Hyliion (NYSEAMERICAN:HYLN – Free Report) to a moderate buy rating in a report released on Wednesday morning,Zacks.com reports.
Hyliion Stock Up 9.1%
HYLN opened at $6.92 on Wednesday. Hyliion has a 52-week low of $1.30 and a 52-week high of $7.97. The company has a market cap of $1.23 billion, a P/E ratio of -23.07 and a beta of 3.43. The firm’s 50-day moving average price is $3.60 and its 200-day moving average price is $2.55.
Institutional Investors Weigh In On Hyliion
A number of large investors have recently bought and sold shares of HYLN. Invesco Ltd. boosted its position in Hyliion by 76.3% in the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock valued at $11,507,000 after buying an additional 2,706,803 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in Hyliion by 121.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock valued at $5,203,000 after buying an additional 1,553,626 shares during the last quarter. Millennium Management LLC boosted its position in Hyliion by 27.4% in the first quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after buying an additional 1,355,951 shares during the last quarter. J. Derek Lewis & Associates Inc. purchased a new stake in Hyliion in the fourth quarter valued at approximately $1,586,000. Finally, Marshall Wace LLP purchased a new stake in Hyliion in the second quarter valued at approximately $386,000. Hedge funds and other institutional investors own 22.81% of the company’s stock.
About Hyliion
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.
See Also
- Five stocks we like better than Hyliion
- As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
- Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
- This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
- Intel Is the Market’s Most Mispriced AI Hedge
Receive News & Ratings for Hyliion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyliion and related companies with MarketBeat.com's FREE daily email newsletter.
