HITE Hedge Asset Management LLC Boosts Stock Position in Hyliion Holdings Corp. (NYSE:HYLN)

HITE Hedge Asset Management LLC lifted its holdings in shares of Hyliion Holdings Corp. (NYSE:HYLN) by 130.6% during the third quarter, Holdings Channel.com reports. The fund owned 933,659 shares of the company’s stock after acquiring an additional 528,750 shares during the period. HITE Hedge Asset Management LLC’s holdings in Hyliion were worth $2,315,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Millennium Management LLC boosted its position in Hyliion by 64.8% in the second quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock valued at $7,672,000 after buying an additional 1,861,497 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Hyliion by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock valued at $931,000 after acquiring an additional 51,794 shares during the period. AQR Capital Management LLC acquired a new position in shares of Hyliion during the 2nd quarter worth approximately $40,000. Vanguard Group Inc. raised its stake in shares of Hyliion by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock worth $12,833,000 after buying an additional 762,909 shares during the period. Finally, Creative Planning acquired a new position in shares of Hyliion during the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Hyliion Stock Performance

Shares of HYLN opened at $3.35 on Tuesday. The stock has a 50 day moving average price of $2.69 and a 200 day moving average price of $2.12. The stock has a market capitalization of $582.00 million, a price-to-earnings ratio of -9.05 and a beta of 2.03. Hyliion Holdings Corp. has a one year low of $0.58 and a one year high of $4.09.

Wall Street Analyst Weigh In

Several analysts recently commented on HYLN shares. Northland Securities boosted their price target on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Northland Capmk upgraded Hyliion to a “hold” rating in a research report on Tuesday, October 1st.

Insider Buying and Selling at Hyliion

In related news, insider Govindaraj Ramasamy bought 30,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $1.92 per share, for a total transaction of $57,600.00. Following the acquisition, the insider now directly owns 298,000 shares in the company, valued at $572,160. This represents a 11.19 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey A. Craig bought 50,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $2.95 per share, with a total value of $147,500.00. Following the completion of the acquisition, the director now owns 282,060 shares in the company, valued at $832,077. This represents a 21.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 20.40% of the stock is owned by company insiders.

Hyliion Profile