Hyliion (NYSE:HYLN) Shares Up 14.6% – What’s Next?

Hyliion Holdings Corp. (NYSE:HYLN)’s share price traded up 14.6% during trading on Monday . The company traded as high as $2.92 and last traded at $2.91. 910,396 shares were traded during mid-day trading, a decline of 4% from the average session volume of 947,200 shares. The stock had previously closed at $2.54.

Analysts Set New Price Targets

A number of equities research analysts have commented on HYLN shares. Northland Securities increased their price objective on shares of Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Northland Capmk raised shares of Hyliion to a “hold” rating in a report on Tuesday, October 1st.

Hyliion Price Performance

The business’s 50 day simple moving average is $2.44 and its 200-day simple moving average is $2.00. The stock has a market capitalization of $505.99 million, a P/E ratio of -7.92 and a beta of 1.91.

Insider Activity at Hyliion

In related news, insider Govindaraj Ramasamy purchased 30,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $1.92 per share, with a total value of $57,600.00. Following the completion of the purchase, the insider now owns 298,000 shares in the company, valued at $572,160. This represents a 11.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 20.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hyliion

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Hyliion by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after purchasing an additional 762,909 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Hyliion by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 104,086 shares of the company’s stock worth $184,000 after purchasing an additional 8,580 shares during the period. Bank of New York Mellon Corp grew its stake in Hyliion by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock worth $931,000 after buying an additional 51,794 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in Hyliion during the second quarter valued at approximately $656,000. Finally, AQR Capital Management LLC acquired a new position in shares of Hyliion during the 2nd quarter worth $40,000. Institutional investors and hedge funds own 22.81% of the company’s stock.

About Hyliion