Hyzon Motors (NASDAQ:HYZN) Shares Down 7.9% – Here’s What Happened

Hyzon Motors Inc. (NASDAQ:HYZN) shares traded down 7.9% during mid-day trading on Wednesday . The stock traded as low as $2.25 and last traded at $2.35. 945,780 shares were traded during trading, an increase of 244% from the average session volume of 275,146 shares. The stock had previously closed at $2.55.

Hyzon Motors Price Performance

The business’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $14.48. The stock has a market cap of $559.12 million, a price-to-earnings ratio of -3.06 and a beta of 2.85.

Hyzon Motors (NASDAQ:HYZN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($10.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($7.50) by ($3.00). The company had revenue of $0.31 million for the quarter, compared to analyst estimates of $1.00 million. During the same period in the previous year, the company posted ($12.50) earnings per share.

Insider Activity at Hyzon Motors

In other news, major shareholder Fuel Cell Technologies Horizon sold 28,220 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.00, for a total transaction of $141,100.00. Following the completion of the transaction, the insider now owns 1,028,743 shares in the company, valued at approximately $5,143,715. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 234,455 shares of company stock worth $948,098 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Hyzon Motors

An institutional investor recently raised its position in Hyzon Motors stock. Van ECK Associates Corp lifted its position in Hyzon Motors Inc. (NASDAQ:HYZN) by 12.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,022,830 shares of the company’s stock after buying an additional 111,431 shares during the period. Van ECK Associates Corp owned approximately 0.41% of Hyzon Motors worth $328,000 at the end of the most recent reporting period. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Hyzon Motors Company Profile

Hyzon Motors Inc supplies hydrogen fuel cell systems for decarbonization applications in various industries. The company commercializes its proprietary fuel cell technology through assembling and upfitting heavy duty (HD) hydrogen fuel cell electric vehicles (FCEVs). It also focuses primarily on assembling and converting hydrogen-powered FCEVs; and building and fostering a clean hydrogen supply ecosystem with partners and third parties from feedstock through hydrogen production, dispensing, and financing.