Hyliion (NYSEAMERICAN:HYLN) Issues Quarterly Earnings Results

Hyliion (NYSEAMERICAN:HYLN) released its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02, FiscalAI reports. The business had revenue of $7.45 million for the quarter, compared to the consensus estimate of $4.17 million. Hyliion had a negative net margin of 313.12% and a negative return on equity of 27.56%.

Hyliion Trading Down 3.1%

HYLN stock opened at $2.69 on Thursday. The firm has a 50 day moving average of $3.63 and a 200-day moving average of $3.47. The firm has a market capitalization of $481.33 million, a P/E ratio of -9.64 and a beta of 3.74. Hyliion has a 12 month low of $1.56 and a 12 month high of $8.49.

Insider Buying and Selling

In other news, Director Vincent Cubbage bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average price of $3.40 per share, with a total value of $170,000.00. Following the acquisition, the director owned 1,131,363 shares of the company’s stock, valued at approximately $3,846,634.20. The trade was a 4.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HYLN shares. Craig Hallum started coverage on shares of Hyliion in a research note on Tuesday, September 29th. They set a “buy” rating and a $7.00 price target on the stock. Northland Securities upgraded shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $8.67.

Hyliion Company Profile

Hyliion Holdings Corp. develops power generation technology for commercial and industrial applications. Its primary product is the KARNO power module, a distributed generator designed to produce electricity using a range of fuels. The company is developing the system for uses that may include data centers, industrial facilities and other sites needing on-site power. Hyliion was founded in 2015 by Thomas Healy, who serves as its chief executive officer. The company previously developed electrified powertrain systems for heavy-duty trucks before shifting its focus to stationary power generation.