Q1 2023 Earnings Forecast for Hyliion Holdings Corp. Issued By Northland Capmk (NYSE:HYLN)

Hyliion Holdings Corp. (NYSE:HYLN – Get Rating) – Stock analysts at Northland Capmk boosted their Q1 2023 earnings per share (EPS) estimates for shares of Hyliion in a report released on Thursday, March 2nd. Northland Capmk analyst D. Schafer now expects that the company will post earnings per share of ($0.17) for the quarter, up from their prior forecast of ($0.22). The consensus estimate for Hyliion’s current full-year earnings is ($0.80) per share. Northland Capmk also issued estimates for Hyliion’s Q2 2023 earnings at ($0.19) EPS, Q3 2023 earnings at ($0.18) EPS, Q4 2023 earnings at ($0.20) EPS, FY2023 earnings at ($0.73) EPS and FY2024 earnings at ($0.57) EPS.

A number of other equities research analysts have also recently weighed in on HYLN. UBS Group reduced their price target on shares of Hyliion from $3.50 to $3.25 and set a “neutral” rating for the company in a research report on Thursday. The Goldman Sachs Group decreased their target price on shares of Hyliion from $3.00 to $2.25 and set a “sell” rating on the stock in a research report on Thursday, November 10th. Finally, Northland Securities started coverage on shares of Hyliion in a report on Tuesday, November 22nd. They issued an “outperform” rating and a $4.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.70.

Hyliion Stock Performance

HYLN stock opened at $2.87 on Monday. The firm has a market cap of $515.77 million, a PE ratio of -3.30 and a beta of 1.51. Hyliion has a one year low of $2.06 and a one year high of $4.73. The firm’s fifty day moving average is $2.97 and its 200 day moving average is $2.96.

Hedge Funds Weigh In On Hyliion

Hedge funds and other institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY lifted its stake in shares of Hyliion by 66.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 8,860 shares of the company’s stock valued at $25,000 after buying an additional 3,524 shares in the last quarter. Tcwp LLC purchased a new stake in Hyliion during the 4th quarter valued at $27,000. Ensign Peak Advisors Inc raised its holdings in shares of Hyliion by 65.8% during the third quarter. Ensign Peak Advisors Inc now owns 10,000 shares of the company’s stock valued at $29,000 after acquiring an additional 3,970 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Hyliion in the 3rd quarter valued at approximately $30,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Hyliion during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 29.03% of the company’s stock.

About Hyliion

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Hyliion Holdings Corp. manufactures hybrid and electric powertrains for trucks. It engages in the provision of hybrid technology to tractor trailers. The company was founded by Thomas Healy in 2015 and is headquartered in Cedar Park, TX.