Hyliion (NYSE:HYLN) Hits New 12-Month High – What’s Next?

Hyliion Holdings Corp. (NYSE:HYLN)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $3.09 and last traded at $3.08, with a volume of 520041 shares. The stock had previously closed at $2.80.

Analysts Set New Price Targets

Several analysts have issued reports on HYLN shares. Northland Securities upped their price objective on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Northland Capmk upgraded Hyliion to a “hold” rating in a research note on Tuesday, October 1st.

Hyliion Stock Performance

The company has a market cap of $529.42 million, a P/E ratio of -8.19 and a beta of 1.91. The stock’s fifty day moving average price is $2.41 and its two-hundred day moving average price is $1.99.

Insider Activity

In other news, insider Govindaraj Ramasamy purchased 30,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $1.92 per share, for a total transaction of $57,600.00. Following the purchase, the insider now owns 298,000 shares of the company’s stock, valued at approximately $572,160. The trade was a 11.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 20.40% of the company’s stock.

Institutional Trading of Hyliion

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Hyliion by 11.7% during the first quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after acquiring an additional 762,909 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Hyliion by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 104,086 shares of the company’s stock valued at $184,000 after buying an additional 8,580 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Hyliion by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock worth $931,000 after buying an additional 51,794 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Hyliion during the 2nd quarter worth approximately $656,000. Finally, AQR Capital Management LLC bought a new stake in shares of Hyliion in the 2nd quarter valued at $40,000. 22.81% of the stock is owned by institutional investors and hedge funds.

Hyliion Company Profile