Morgan Stanley Cuts Hyzon Motors (NASDAQ:HYZN) Price Target to $5.00

Hyzon Motors (NASDAQ:HYZNGet Rating) had its target price trimmed by Morgan Stanley from $7.00 to $5.00 in a research note published on Monday morning, Stock Target Advisor reports. The firm currently has an equal weight rating on the stock.

HYZN has been the subject of a number of other reports. Canaccord Genuity Group downgraded shares of Hyzon Motors from a buy rating to a hold rating and reduced their price objective for the stock from $12.00 to $6.00 in a report on Wednesday, April 6th. Canaccord Genuity Group reaffirmed a hold rating and set a $6.00 price objective (down from $12.00) on shares of Hyzon Motors in a report on Wednesday, April 6th. DA Davidson reduced their price objective on shares of Hyzon Motors from $21.00 to $16.00 and set a buy rating for the company in a report on Friday, March 25th. The Goldman Sachs Group reduced their price objective on shares of Hyzon Motors from $6.00 to $5.25 and set a neutral rating for the company in a report on Thursday, June 23rd. Finally, Wedbush reduced their price objective on shares of Hyzon Motors from $15.00 to $11.00 and set an outperform rating for the company in a report on Friday, March 25th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $10.47.

Hyzon Motors Stock Up 6.4 %

Shares of HYZN opened at $3.68 on Monday. The company’s fifty day moving average is $3.80 and its 200-day moving average is $4.73. Hyzon Motors has a 12 month low of $2.77 and a 12 month high of $11.37. The firm has a market cap of $912.27 million, a price-to-earnings ratio of -30.67 and a beta of 1.72.

Hyzon Motors (NASDAQ:HYZNGet Rating) last posted its earnings results on Friday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). The firm had revenue of $0.36 million during the quarter, compared to analyst estimates of $8.10 million. As a group, research analysts predict that Hyzon Motors will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyzon Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HYZN. Van ECK Associates Corp increased its position in Hyzon Motors by 52.9% in the 4th quarter. Van ECK Associates Corp now owns 242,503 shares of the company’s stock valued at $1,574,000 after acquiring an additional 83,948 shares in the last quarter. Exane Derivatives acquired a new stake in shares of Hyzon Motors during the 4th quarter worth approximately $870,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Hyzon Motors during the 4th quarter worth approximately $125,000. Concorde Asset Management LLC grew its position in shares of Hyzon Motors by 53.2% during the 4th quarter. Concorde Asset Management LLC now owns 29,080 shares of the company’s stock worth $189,000 after buying an additional 10,100 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Hyzon Motors during the 4th quarter worth approximately $84,000. Institutional investors and hedge funds own 17.32% of the company’s stock.

Hyzon Motors Company Profile

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Hyzon Motors Inc, a hydrogen mobility company, provides decarbonized solutions for commercial vehicles market and hydrogen supply infrastructure. The company focuses on assembling and supplying hydrogen-powered FCEVs, including heavy-duty (Class 8) trucks, medium-duty (Class 6) trucks, light-duty (Class 3 and 4) trucks, and 40 and 60-foot (12 and18-meter) city and coach buses to commercial vehicle operators; and building and fostering a clean hydrogen supply ecosystem with leading partners from feedstock through hydrogen production, dispensing, and financing.

Further Reading

Analyst Recommendations for Hyzon Motors (NASDAQ:HYZN)

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