Hyzon Motors Inc. (NASDAQ:HYZN) Receives Average Recommendation of “Hold” from Analysts

Shares of Hyzon Motors Inc. (NASDAQ:HYZNGet Rating) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.03.

A number of equities analysts recently issued reports on the company. DA Davidson cut Hyzon Motors from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $4.00 in a report on Friday, August 5th. The Goldman Sachs Group dropped their price objective on Hyzon Motors from $6.00 to $5.25 and set a “neutral” rating for the company in a report on Thursday, June 23rd. Morgan Stanley lowered their target price on Hyzon Motors from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Melius cut Hyzon Motors from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Wedbush cut Hyzon Motors from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $3.00 in a report on Friday, August 5th.

Hyzon Motors Stock Performance

Shares of Hyzon Motors stock opened at $1.99 on Wednesday. The stock has a market cap of $493.32 million, a price-to-earnings ratio of -16.58 and a beta of 2.56. The stock has a 50 day moving average price of $2.79 and a 200-day moving average price of $3.98. Hyzon Motors has a one year low of $1.87 and a one year high of $10.70.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HYZN. Wedbush Securities Inc. bought a new position in shares of Hyzon Motors in the 2nd quarter worth $40,000. Pictet Asset Management SA bought a new position in shares of Hyzon Motors in the 2nd quarter worth $40,000. Principal Financial Group Inc. bought a new position in shares of Hyzon Motors in the 2nd quarter worth $40,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Hyzon Motors in the 2nd quarter worth $57,000. Finally, Advisor Group Holdings Inc. raised its position in shares of Hyzon Motors by 118.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 9,910 shares of the company’s stock worth $64,000 after acquiring an additional 5,373 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Hyzon Motors Company Profile

(Get Rating)

Hyzon Motors Inc, a hydrogen mobility company, provides decarbonized solutions for commercial vehicles market and hydrogen supply infrastructure. The company focuses on assembling and supplying hydrogen-powered FCEVs, including heavy-duty (Class 8) trucks, medium-duty (Class 6) trucks, light-duty (Class 3 and 4) trucks, and 40 and 60-foot (12 and18-meter) city and coach buses to commercial vehicle operators; and building and fostering a clean hydrogen supply ecosystem with leading partners from feedstock through hydrogen production, dispensing, and financing.

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Analyst Recommendations for Hyzon Motors (NASDAQ:HYZN)

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