Hyzon Motors (NASDAQ:HYZN) Trading Up 8% – Should You Buy?

Hyzon Motors Inc. (NASDAQ:HYZN)’s share price traded up 8% during mid-day trading on Monday . The company traded as high as $1.44 and last traded at $1.21. 1,406,802 shares were traded during mid-day trading, an increase of 386% from the average session volume of 289,673 shares. The stock had previously closed at $1.12.

Hyzon Motors Stock Performance

The company has a market capitalization of $8.88 million, a price-to-earnings ratio of -0.03 and a beta of 2.83. The stock’s 50-day moving average price is $1.75 and its 200-day moving average price is $5.98.

Institutional Trading of Hyzon Motors

Several large investors have recently bought and sold shares of HYZN. Van ECK Associates Corp increased its stake in shares of Hyzon Motors by 12.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,022,830 shares of the company’s stock worth $328,000 after purchasing an additional 111,431 shares in the last quarter. First Commonwealth Financial Corp PA acquired a new stake in Hyzon Motors during the 3rd quarter valued at $26,000. Finally, Victory Capital Management Inc. increased its position in Hyzon Motors by 48.0% during the third quarter. Victory Capital Management Inc. now owns 25,199 shares of the company’s stock worth $61,000 after buying an additional 8,173 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

About Hyzon Motors

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.