Hyliion (NYSE:HYLN) Sets New 52-Week High – What’s Next?

Hyliion Holdings Corp. (NYSE:HYLN)’s stock price hit a new 52-week high on Monday . The company traded as high as $4.09 and last traded at $4.04, with a volume of 1214807 shares changing hands. The stock had previously closed at $3.84.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Northland Capmk upgraded Hyliion to a “hold” rating in a research note on Tuesday, October 1st. Northland Securities raised their target price on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th.

Hyliion Price Performance

The stock has a 50-day moving average of $2.62 and a 200 day moving average of $2.08. The stock has a market capitalization of $644.54 million, a price-to-earnings ratio of -10.03 and a beta of 1.91.

Insider Buying and Selling

In other Hyliion news, Director Vincent T. Cubbage sold 65,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $3.90, for a total transaction of $253,500.00. Following the transaction, the director now owns 972,078 shares in the company, valued at approximately $3,791,104.20. This trade represents a 6.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Govindaraj Ramasamy bought 30,000 shares of Hyliion stock in a transaction on Wednesday, September 11th. The shares were bought at an average price of $1.92 per share, for a total transaction of $57,600.00. Following the acquisition, the insider now owns 298,000 shares of the company’s stock, valued at approximately $572,160. The trade was a 11.19 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 20.40% of the company’s stock.

Hedge Funds Weigh In On Hyliion

Institutional investors have recently modified their holdings of the business. Creative Planning bought a new position in shares of Hyliion during the 3rd quarter valued at about $29,000. AQR Capital Management LLC bought a new position in shares of Hyliion during the 2nd quarter valued at about $40,000. XTX Topco Ltd bought a new position in shares of Hyliion during the 3rd quarter valued at about $60,000. Intech Investment Management LLC bought a new position in shares of Hyliion during the 3rd quarter valued at about $77,000. Finally, Verition Fund Management LLC raised its position in Hyliion by 52.9% in the 3rd quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock valued at $84,000 after buying an additional 11,653 shares during the last quarter. Institutional investors own 22.81% of the company’s stock.

About Hyliion