According to Zacks, “Hyliion Holdings Corp. provides electrified powertrain solutions for Class 8 commercial vehicle. The company’s solutions utilize its proprietary battery systems, control software and data analytics combined with fully integrated electric motors and power electronics, to produce electrified powertrain systems. Hyliion Holdings Corp., formerly known as Tortoise Acquisition Corp., is based in United States. “
A number of other equities research analysts have also recently weighed in on HYLN. Barclays cut their price objective on shares of Hyliion from $7.00 to $4.00 and set an equal weight rating on the stock in a research note on Thursday, March 10th. UBS Group upgraded Hyliion from a sell rating to a neutral rating and cut their price objective for the company from $4.50 to $4.00 in a report on Wednesday, March 2nd.
Hyliion (NYSE:HYLN – Get Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.17) earnings per share (EPS) for the quarter. The company had revenue of $0.20 million during the quarter. During the same period in the prior year, the business posted ($0.13) EPS. On average, research analysts anticipate that Hyliion will post -0.79 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in Hyliion by 17.9% during the 4th quarter. BlackRock Inc. now owns 8,842,319 shares of the company’s stock worth $54,822,000 after acquiring an additional 1,344,404 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Hyliion by 1,448.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 899,566 shares of the company’s stock worth $5,577,000 after purchasing an additional 841,456 shares during the period. Millennium Management LLC grew its position in Hyliion by 2,641.3% during the fourth quarter. Millennium Management LLC now owns 521,169 shares of the company’s stock valued at $3,231,000 after purchasing an additional 502,157 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Hyliion in the 4th quarter valued at approximately $2,796,000. Finally, Raymond James & Associates lifted its position in Hyliion by 272.7% in the 3rd quarter. Raymond James & Associates now owns 210,050 shares of the company’s stock worth $1,764,000 after buying an additional 331,688 shares in the last quarter. Institutional investors and hedge funds own 27.18% of the company’s stock.
About Hyliion (Get Rating)
Hyliion Holdings Corp. designs, develops, and sells electrified powertrain solutions for the commercial vehicle industry. It also provides battery management systems for hybrid and fully electric vehicle applications; and battery packs. The company was founded in 2015 and is headquartered in Cedar Park, Texas.
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