Hyliion (NYSEAMERICAN:HYLN) Sees Large Volume Increase – Still a Buy?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares saw unusually-high trading volume on Wednesday . 2,354,999 shares traded hands during mid-day trading, a decline of 3% from the previous session’s volume of 2,432,601 shares.The stock last traded at $5.0440 and had previously closed at $6.10.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC initiated coverage on shares of Hyliion in a report on Wednesday, June 10th. They set a “buy” rating and a $9.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Hyliion has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Hyliion Stock Performance

The stock has a market cap of $917.51 million, a PE ratio of -17.22 and a beta of 3.43. The stock has a fifty day simple moving average of $4.63 and a two-hundred day simple moving average of $2.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Hyliion in the third quarter valued at $26,000. Hsbc Holdings PLC purchased a new stake in Hyliion during the 1st quarter worth $27,000. Cubist Systematic Strategies LLC purchased a new stake in Hyliion during the 1st quarter worth $26,000. Banco BTG Pactual S.A. acquired a new position in Hyliion in the 3rd quarter worth $37,000. Finally, Savant Capital LLC acquired a new position in Hyliion in the 4th quarter worth $37,000. 22.81% of the stock is owned by institutional investors and hedge funds.

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.