Hyliion (NYSE:HYLN) Trading Down 3.7% – Time to Sell?

Hyliion Holdings Corp. (NYSE:HYLN) dropped 3.7% during mid-day trading on Tuesday . The company traded as low as $1.8250 and last traded at $1.83. Approximately 688,611 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 981,023 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Hyliion from a “sell” rating to a “hold” rating in a report on Sunday, December 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Hyliion Trading Down 3.7%

The firm has a market capitalization of $325.40 million, a P/E ratio of -4.95 and a beta of 2.57. The company has a 50-day moving average of $2.05 and a 200-day moving average of $2.01.

Hedge Funds Weigh In On Hyliion

A number of hedge funds have recently made changes to their positions in the stock. Osbon Capital Management LLC bought a new position in Hyliion during the 4th quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Hyliion by 8,348.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 20,107 shares of the company’s stock worth $37,000 after purchasing an additional 19,869 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Hyliion in the 3rd quarter valued at $26,000. Banco BTG Pactual S.A. bought a new stake in shares of Hyliion in the 3rd quarter valued at $37,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Hyliion during the second quarter worth $30,000. 22.81% of the stock is currently owned by institutional investors.

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.