Hyliion (NYSE:HYLN) Upgraded at Wall Street Zen

Hyliion (NYSE:HYLN) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Johnson Rice started coverage on Hyliion in a research report on Tuesday, October 21st. They set a “buy” rating and a $5.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Hyliion Trading Up 1.0%

Hyliion stock opened at $2.00 on Friday. The firm has a 50 day moving average of $1.96 and a 200 day moving average of $1.79. The firm has a market capitalization of $351.95 million, a price-to-earnings ratio of -5.41 and a beta of 2.50. Hyliion has a 12-month low of $1.11 and a 12-month high of $2.79.

Institutional Investors Weigh In On Hyliion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HYLN. 683 Capital Management LLC raised its stake in Hyliion by 171.4% in the 1st quarter. 683 Capital Management LLC now owns 950,000 shares of the company’s stock valued at $1,330,000 after purchasing an additional 600,000 shares during the last quarter. Nuveen LLC purchased a new position in shares of Hyliion in the 1st quarter worth about $811,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Hyliion during the 2nd quarter worth $44,000. American Century Companies Inc. lifted its position in Hyliion by 14.3% during the 1st quarter. American Century Companies Inc. now owns 211,528 shares of the company’s stock worth $296,000 after acquiring an additional 26,545 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Hyliion by 27.4% in the first quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after purchasing an additional 1,355,951 shares during the period. Hedge funds and other institutional investors own 22.81% of the company’s stock.

About Hyliion

Hyliion Holdings Corp. develops electrified powertrain solutions aimed at reducing fuel consumption and emissions for Class 8 commercial vehicles. Its flagship offerings include the Hypertruck ERX electric axle and hybrid powertrain systems that integrate battery packs with onboard natural gas generators. These modular solutions are designed to retrofit existing diesel trucks or to be incorporated by original equipment manufacturers, allowing fleets to transition toward lower-carbon operations without replacing entire fleets.

Founded in 2015 by Thomas Healy and based in Austin, Texas, Hyliion went public in 2020 via a special purpose acquisition company (SPAC) merger.