Hyliion (NYSEAMERICAN:HYLN) Trading Down 6% – Time to Sell?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares fell 6% during mid-day trading on Thursday . The stock traded as low as $3.47 and last traded at $3.4490. Approximately 321,680 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,722,190 shares. The stock had previously closed at $3.67.

Analyst Upgrades and Downgrades

Several analysts have commented on HYLN shares. Needham & Company LLC began coverage on shares of Hyliion in a research report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price target for the company. Northland Securities raised shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $8.00.

Hyliion Stock Performance

The company has a market capitalization of $592.41 million, a price-to-earnings ratio of -11.07 and a beta of 3.52. The business’s 50 day moving average is $4.66 and its 200 day moving average is $3.50.

Hyliion (NYSEAMERICAN:HYLN) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). 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 564.34% and a negative return on equity of 27.94%. Sell-side analysts predict that Hyliion Holdings Corp. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Hyliion

Hedge funds have recently made changes to their positions in the company. Apella Capital LLC raised its stake in Hyliion by 56.9% in the 2nd quarter. Apella Capital LLC now owns 33,030 shares of the company’s stock worth $172,000 after acquiring an additional 11,972 shares during the last quarter. Renaissance Technologies LLC lifted its position in Hyliion by 48.8% during the 1st quarter. Renaissance Technologies LLC now owns 318,600 shares of the company’s stock worth $561,000 after acquiring an additional 104,500 shares during the period. Cetera Investment Advisers lifted its position in Hyliion by 28.3% during the 1st quarter. Cetera Investment Advisers now owns 94,957 shares of the company’s stock worth $167,000 after acquiring an additional 20,956 shares during the period. Dimensional Fund Advisors LP grew its stake in Hyliion by 34.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 799,672 shares of the company’s stock valued at $1,406,000 after purchasing an additional 203,451 shares during the last quarter. Finally, Angeles Wealth Management LLC purchased a new stake in Hyliion during the 1st quarter valued at about $44,000. 22.81% of the stock is owned by institutional investors and hedge funds.

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.