Shares of Hyzon Motors Inc. (NASDAQ:HYZN – Get Rating) have been given an average rating of “Hold” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $10.47.
A number of equities analysts have recently issued reports on HYZN shares. Morgan Stanley cut their price objective on shares of Hyzon Motors from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Canaccord Genuity Group restated 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 lowered their target price on shares of Hyzon Motors from $6.00 to $5.25 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. Finally, Canaccord Genuity Group lowered shares of Hyzon Motors from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $6.00 in a report on Wednesday, April 6th.
Institutional Investors Weigh In On Hyzon Motors
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Hyzon Motors by 4.5% during the 2nd quarter. SG Americas Securities LLC now owns 981,878 shares of the company’s stock valued at $2,887,000 after acquiring an additional 42,049 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hyzon Motors by 1,296.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 420,769 shares of the company’s stock valued at $1,237,000 after acquiring an additional 390,641 shares during the period. Wedbush Securities Inc. bought a new position in shares of Hyzon Motors during the 2nd quarter valued at approximately $40,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Hyzon Motors during the 2nd quarter valued at approximately $80,000. Finally, Private Advisor Group LLC bought a new position in shares of Hyzon Motors during the 2nd quarter valued at approximately $156,000. Hedge funds and other institutional investors own 17.32% of the company’s stock.
Hyzon Motors Price Performance
Hyzon Motors (NASDAQ:HYZN – Get Rating) last released its quarterly earnings data on Friday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $0.36 million for the quarter, compared to the consensus estimate of $8.10 million. On average, analysts anticipate that Hyzon Motors will post -0.36 earnings per share for the current fiscal year.
About Hyzon Motors
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.
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