Hyliion Holdings Corp. (NYSE:HYLN) Short Interest Up 7.1% in November

Hyliion Holdings Corp. (NYSE:HYLN) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 12,080,000 shares, a growth of 7.1% from the October 31st total of 11,280,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is currently 11.1 days. Currently, 10.2% of the company’s shares are short sold.

Analysts Set New Price Targets

HYLN has been the topic of several recent analyst reports. Northland Capmk raised Hyliion to a “hold” rating in a report on Tuesday, October 1st. Northland Securities upped their price target 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.

Hyliion Trading Down 9.2 %

Shares of Hyliion stock opened at $3.35 on Tuesday. The firm’s 50-day moving average is $2.69 and its 200 day moving average is $2.12. Hyliion has a 1 year low of $0.58 and a 1 year high of $4.09.

Insider Activity at Hyliion

In related news, insider Govindaraj Ramasamy bought 30,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost 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 of the company’s stock, valued at $572,160. This trade 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 Hyliion stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $2.95 per share, for a total transaction of $147,500.00. Following the completion of the transaction, the director now directly 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 corporate insiders.

Hedge Funds Weigh In On Hyliion

Several institutional investors and hedge funds have recently added to or reduced their stakes in HYLN. Millennium Management LLC increased its position in Hyliion by 64.8% during the second quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock worth $7,672,000 after purchasing an additional 1,861,497 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Hyliion by 11.7% in the first quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock worth $12,833,000 after acquiring an additional 762,909 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in Hyliion by 130.6% during the third quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company’s stock worth $2,315,000 after acquiring an additional 528,750 shares during the last quarter. Barclays PLC boosted its position in shares of Hyliion by 272.1% in the third quarter. Barclays PLC now owns 184,685 shares of the company’s stock worth $459,000 after buying an additional 135,055 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Hyliion by 79.3% during the 3rd quarter. Jane Street Group LLC now owns 265,302 shares of the company’s stock worth $658,000 after buying an additional 117,358 shares during the last quarter. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Hyliion Company Profile