Hyliion (NYSEAMERICAN:HYLN) Trading Up 11.6% – Should You Buy?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s share price was up 11.6% during trading on Thursday . The company traded as high as $7.07 and last traded at $7.21. Approximately 1,387,984 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 1,932,181 shares. The stock had previously closed at $6.46.

Hyliion Stock Performance

The business has a fifty day moving average price of $3.30 and a 200 day moving average price of $2.43. The company has a market capitalization of $1.23 billion, a PE ratio of -23.00 and a beta of 3.43.

Hedge Funds Weigh In On Hyliion

A number of large investors have recently modified their holdings of HYLN. Cubist Systematic Strategies LLC purchased a new position in shares of Hyliion in the 1st quarter worth about $26,000. AQR Capital Management LLC raised its holdings in shares of Hyliion by 15.1% during the 1st quarter. AQR Capital Management LLC now owns 76,957 shares of the company’s stock valued at $108,000 after buying an additional 10,076 shares during the period. Millennium Management LLC raised its holdings in shares of Hyliion by 27.4% during the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after buying an additional 1,355,951 shares during the period. Jane Street Group LLC raised its holdings in shares of Hyliion by 941.8% during the 1st quarter. Jane Street Group LLC now owns 114,997 shares of the company’s stock valued at $161,000 after buying an additional 103,959 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Hyliion during the 1st quarter valued at about $214,000. 22.81% of the stock is currently owned by hedge funds and other institutional investors.

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.