Hyliion (NYSE:HYLN) Trading 9.9% Higher – Here’s Why

Hyliion Holdings Corp. (NYSE:HYLN)’s stock price traded up 9.9% during mid-day trading on Wednesday . The stock traded as high as $7.32 and last traded at $7.2550. 4,678,760 shares traded hands during trading, an increase of 178% from the average session volume of 1,684,382 shares. The stock had previously closed at $6.60.

Hyliion Price Performance

The company has a fifty day moving average of $2.50 and a 200-day moving average of $2.16. The firm has a market capitalization of $1.21 billion, a PE ratio of -18.40 and a beta of 2.59.

Institutional Trading of Hyliion

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its holdings 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 worth $8,814,000 after acquiring an additional 1,355,951 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Hyliion by 76.3% during the fourth quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock worth $11,507,000 after acquiring an additional 2,706,803 shares in the last quarter. State Street Corp raised its holdings in shares of Hyliion by 0.8% during the fourth quarter. State Street Corp now owns 3,036,081 shares of the company’s stock worth $5,586,000 after acquiring an additional 22,963 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Hyliion by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock worth $5,472,000 after acquiring an additional 59,019 shares in the last quarter. Finally, HITE Hedge Asset Management LLC raised its holdings in shares of Hyliion by 121.9% during the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock worth $5,203,000 after acquiring an additional 1,553,626 shares in the last quarter. 22.81% of the stock is currently owned by hedge funds and other institutional investors.

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.