Hyliion (NYSE:HYLN) Upgraded by Wall Street Zen to “Hold” Rating

Hyliion (NYSE:HYLN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Johnson Rice began coverage on shares of Hyliion in a report on Tuesday, October 21st. They issued a “buy” rating and a $5.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Hyliion presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Hyliion Stock Up 1.0%

Shares of HYLN opened at $2.00 on Friday. The firm has a 50-day moving average price of $1.96 and a 200 day moving average price of $1.79. The firm has a market capitalization of $351.95 million, a PE ratio of -5.41 and a beta of 2.50. Hyliion has a 52-week low of $1.11 and a 52-week high of $2.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Hyliion by 27.4% during the first quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after purchasing an additional 1,355,951 shares during the last quarter. Invesco Ltd. lifted its stake in Hyliion by 22.8% in the second quarter. Invesco Ltd. now owns 3,288,531 shares of the company’s stock valued at $4,341,000 after buying an additional 610,030 shares during the period. 683 Capital Management LLC boosted its stake in Hyliion by 171.4% during the 1st quarter. 683 Capital Management LLC now owns 950,000 shares of the company’s stock worth $1,330,000 after acquiring an additional 600,000 shares during the last quarter. Nuveen LLC acquired a new position in shares of Hyliion in the 1st quarter valued at $811,000. Finally, Marshall Wace LLP bought a new stake in shares of Hyliion in the second quarter worth about $386,000. Institutional investors and hedge funds own 22.81% of the company’s stock.

About Hyliion

Hyliion Holdings Corp. develops electrified powertrain solutions aimed at reducing fuel consumption and emissions for Class 8 commercial vehicles. Its flagship offerings include the Hypertruck ERX electric axle and hybrid powertrain systems that integrate battery packs with onboard natural gas generators. These modular solutions are designed to retrofit existing diesel trucks or to be incorporated by original equipment manufacturers, allowing fleets to transition toward lower-carbon operations without replacing entire fleets.

Founded in 2015 by Thomas Healy and based in Austin, Texas, Hyliion went public in 2020 via a special purpose acquisition company (SPAC) merger.