Hyzon Motors (NASDAQ:HYZN) Shares Gap Up to $3.62

Hyzon Motors Inc. (NASDAQ:HYZNGet Rating)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.62, but opened at $3.89. Hyzon Motors shares last traded at $3.83, with a volume of 17,193 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley lowered their target price on Hyzon Motors from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Canaccord Genuity Group reissued a “hold” rating and issued a $6.00 target price (down previously from $12.00) on shares of Hyzon Motors in a report on Wednesday, April 6th. The Goldman Sachs Group decreased their price objective on Hyzon Motors from $6.00 to $5.25 and set a “neutral” rating on the stock in a research note on Thursday, June 23rd. Finally, Canaccord Genuity Group lowered Hyzon Motors from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $6.00 in a research note on Wednesday, April 6th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.47.

Hyzon Motors Trading Up 4.1 %

The business has a 50 day simple moving average of $3.76 and a 200-day simple moving average of $4.59. The stock has a market capitalization of $996.56 million, a price-to-earnings ratio of -33.50 and a beta of 1.72.

Hyzon Motors (NASDAQ:HYZNGet Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The business had revenue of $0.36 million during the quarter, compared to analyst estimates of $8.10 million. Research analysts predict that Hyzon Motors Inc. will post -0.36 EPS for the current year.

Institutional Trading of Hyzon Motors

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. purchased a new position in shares of Hyzon Motors in the 4th quarter worth about $21,365,000. Hood River Capital Management LLC purchased a new position in shares of Hyzon Motors in the 1st quarter worth about $16,377,000. Vanguard Group Inc. raised its holdings in shares of Hyzon Motors by 176.2% in the 1st quarter. Vanguard Group Inc. now owns 3,589,810 shares of the company’s stock worth $22,938,000 after purchasing an additional 2,290,045 shares during the period. SG Americas Securities LLC purchased a new position in shares of Hyzon Motors in the 1st quarter worth about $6,006,000. Finally, Long Focus Capital Management LLC purchased a new position in shares of Hyzon Motors in the 4th quarter worth about $4,868,000. 17.32% of the stock is owned by institutional investors and hedge funds.

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

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