Hyliion (NYSE:HYLN) Hits New 52-Week High – Here’s What Happened

Shares of Hyliion Holdings Corp. (NYSE:HYLN) reached a new 52-week high on Monday . The company traded as high as $4.09 and last traded at $4.04, with a volume of 1214807 shares. The stock had previously closed at $3.84.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HYLN shares. Northland Securities boosted their target price on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Northland Capmk raised Hyliion to a “hold” rating in a report on Tuesday, October 1st.

Hyliion Stock Performance

The business has a fifty day moving average of $2.62 and a two-hundred day moving average of $2.08. The firm has a market capitalization of $644.54 million, a price-to-earnings ratio of -10.03 and a beta of 1.91.

Insider Activity at Hyliion

In related news, insider Govindaraj Ramasamy bought 30,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average cost of $1.92 per share, for a total transaction of $57,600.00. Following the transaction, the insider now owns 298,000 shares in the company, valued at $572,160. The trade was a 11.19 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vincent T. Cubbage sold 65,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $3.90, for a total value of $253,500.00. Following the sale, the director now owns 972,078 shares of the company’s stock, valued at approximately $3,791,104.20. The trade was a 6.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Hyliion

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Hyliion by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock worth $12,833,000 after buying an additional 762,909 shares during the last quarter. Millennium Management LLC lifted its position in shares of Hyliion by 64.8% during the 2nd quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock worth $7,672,000 after buying an additional 1,861,497 shares during the last quarter. State Street Corp lifted its position in shares of Hyliion by 0.6% during the 3rd quarter. State Street Corp now owns 2,985,109 shares of the company’s stock worth $7,403,000 after buying an additional 16,707 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Hyliion by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,394 shares of the company’s stock worth $2,622,000 after buying an additional 20,541 shares during the last quarter. Finally, HITE Hedge Asset Management LLC lifted its position in shares of Hyliion by 130.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company’s stock worth $2,315,000 after buying an additional 528,750 shares during the last quarter. 22.81% of the stock is currently owned by institutional investors.

About Hyliion