Hyliion (NYSEAMERICAN:HYLN) Trading Down 6.7% – Here’s What Happened

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s stock price dropped 6.7% during mid-day trading on Friday . The stock traded as low as $3.82 and last traded at $3.8450. Approximately 373,220 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 2,632,874 shares. The stock had previously closed at $4.12.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC began coverage on Hyliion in a report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Hyliion Price Performance

The business’s fifty day moving average price is $5.49 and its 200-day moving average price is $3.27. The stock has a market capitalization of $663.39 million, a price-to-earnings ratio of -12.40 and a beta of 3.47.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Hyliion by 27.4% in the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock worth $8,814,000 after buying an additional 1,355,951 shares during the last quarter. Invesco Ltd. lifted its holdings in Hyliion by 76.3% during the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock worth $11,507,000 after acquiring an additional 2,706,803 shares during the period. State Street Corp lifted its holdings in Hyliion by 0.8% during the fourth quarter. State Street Corp now owns 3,036,081 shares of the company’s stock worth $5,586,000 after acquiring an additional 22,963 shares during the period. Geode Capital Management LLC boosted its position in Hyliion by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock worth $5,472,000 after purchasing an additional 59,019 shares during the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in Hyliion by 121.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock worth $5,203,000 after purchasing an additional 1,553,626 shares during the last quarter. 22.81% of the stock is owned by institutional investors.

Hyliion Company Profile

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.