Hyliion (NYSE:HYLN) Upgraded to “Hold” at Northland Capmk

Hyliion (NYSE:HYLN) was upgraded by stock analysts at Northland Capmk to a “hold” rating in a report released on Tuesday, Zacks.com reports.

Separately, Northland Securities increased their price objective on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th.

Hyliion Trading Up 7.0 %

Shares of HYLN stock opened at $2.43 on Tuesday. The firm has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $1.74. Hyliion has a 12 month low of $0.52 and a 12 month high of $2.73. The firm has a market capitalization of $421.80 million, a PE ratio of -3.98 and a beta of 1.89.

Hyliion (NYSE:HYLN) last posted its earnings results on Tuesday, August 6th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. On average, equities analysts predict that Hyliion will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Govindaraj Ramasamy acquired 30,000 shares of Hyliion stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $1.92 per share, with a total value of $57,600.00. Following the transaction, the insider now owns 298,000 shares of the company’s stock, valued at approximately $572,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 20.40% of the company’s stock.

Hedge Funds Weigh In On Hyliion

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in Hyliion by 64.8% during the second quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock worth $7,672,000 after acquiring an additional 1,861,497 shares during the period. Vanguard Group Inc. grew its stake in Hyliion by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after purchasing an additional 762,909 shares during the period. HITE Hedge Asset Management LLC purchased a new stake in shares of Hyliion during the 2nd quarter valued at $656,000. Bank of New York Mellon Corp raised its stake 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 purchasing an additional 51,794 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Hyliion in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 22.81% of the company’s stock.

About Hyliion