Hyliion (NYSE:HYLN) Shares Gap Down – What’s Next?

Hyliion Holdings Corp. (NYSE:HYLN) shares gapped down before the market opened on Monday . The stock had previously closed at $3.69, but opened at $3.61. Hyliion shares last traded at $3.61, with a volume of 153,585 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HYLN. Northland Securities upped their price target on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Northland Capmk upgraded Hyliion to a “hold” rating in a report on Tuesday, October 1st.

Hyliion Price Performance

The stock has a market capitalization of $618.49 million, a price-to-earnings ratio of -9.97 and a beta of 1.91. The business has a fifty day moving average of $2.69 and a 200-day moving average of $2.12.

Insider Transactions at Hyliion

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

Hedge Funds Weigh In On Hyliion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning bought a new stake in Hyliion during the 3rd quarter valued at $29,000. AQR Capital Management LLC bought a new stake in shares of Hyliion during the 2nd quarter worth $40,000. XTX Topco Ltd bought a new position in Hyliion during the third quarter valued at about $60,000. Intech Investment Management LLC purchased a new position in Hyliion in the third quarter valued at about $77,000. Finally, Verition Fund Management LLC grew its holdings in Hyliion by 52.9% during the third quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock valued at $84,000 after purchasing an additional 11,653 shares during the period. 22.81% of the stock is currently owned by institutional investors and hedge funds.

Hyliion Company Profile