Hyliion (NYSE:HYLN) Trading Up 4.3% – Should You Buy?

Shares of Hyliion Holdings Corp. (NYSE:HYLN) traded up 4.3% during mid-day trading on Wednesday . The stock traded as high as $2.24 and last traded at $2.16. 1,250,371 shares changed hands during trading, an increase of 29% from the average session volume of 966,121 shares. The stock had previously closed at $2.07.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HYLN shares. Wall Street Zen raised shares of Hyliion from a “sell” rating to a “hold” rating in a research report on Sunday, December 28th. Johnson Rice started coverage on Hyliion in a research note on Tuesday, October 21st. They issued a “buy” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Hyliion Stock Up 4.3%

The firm has a market cap of $380.10 million, a price-to-earnings ratio of -5.84 and a beta of 2.55. The company’s fifty day moving average is $1.90 and its 200 day moving average is $1.87.

Hedge Funds Weigh In On Hyliion

Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new stake in Hyliion during the first quarter worth about $26,000. CIBC Bancorp USA Inc. acquired a new position in shares of Hyliion during the 3rd quarter worth approximately $26,000. SG Americas Securities LLC bought a new stake in shares of Hyliion during the 3rd quarter worth approximately $27,000. Brevan Howard Capital Management LP acquired a new stake in shares of Hyliion in the 2nd quarter valued at approximately $30,000. Finally, XTX Topco Ltd bought a new position in shares of Hyliion in the second quarter valued at $34,000. Institutional investors own 22.81% of the company’s stock.

Hyliion Company Profile

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.