Hyliion (NYSEAMERICAN:HYLN) Trading Down 6.7% – Should You Sell?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares fell 6.7% during trading on Friday . The company traded as low as $3.82 and last traded at $3.8450. Approximately 373,220 shares changed hands during trading, a decline of 86% from the average daily volume of 2,632,874 shares. The stock had previously closed at $4.12.

Analysts Set New Price Targets

Separately, Needham & Company LLC began coverage on Hyliion in a research report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 target price for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Hyliion Price Performance

The firm has a market capitalization of $676.76 million, a price-to-earnings ratio of -12.68 and a beta of 3.47. The business’s 50-day moving average price is $5.51 and its 200 day moving average price is $3.27.

Institutional Trading of Hyliion

Several large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new position in shares of Hyliion in the third quarter worth about $26,000. Cubist Systematic Strategies LLC acquired a new stake in Hyliion during the 1st quarter valued at approximately $26,000. Hsbc Holdings PLC acquired a new stake in Hyliion during the 1st quarter valued at approximately $27,000. Brevan Howard Capital Management LP purchased a new stake in Hyliion during the 2nd quarter worth approximately $30,000. Finally, XTX Topco Ltd purchased a new stake in Hyliion during the 2nd quarter worth approximately $34,000. 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.