Hyliion (NYSE:HYLN) Shares Down 5.9% – Here’s What Happened

Hyliion Holdings Corp. (NYSE:HYLN)’s share price was down 5.9% on Wednesday . The stock traded as low as $3.01 and last traded at $3.05. Approximately 798,869 shares were traded during trading, a decline of 21% from the average daily volume of 1,009,421 shares. The stock had previously closed at $3.24.

Analyst Upgrades and Downgrades

HYLN has been the subject of several research analyst reports. Northland Securities lifted their target price on shares of Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Northland Capmk upgraded shares of Hyliion to a “hold” rating in a research report on Tuesday, October 1st.

Hyliion Stock Performance

The company has a market capitalization of $526.41 million, a P/E ratio of -8.77 and a beta of 2.03. The business has a fifty day moving average of $2.81 and a 200-day moving average of $2.20.

Insiders Place Their Bets

In related news, Director Vincent T. Cubbage sold 65,000 shares of Hyliion stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $3.90, for a total transaction of $253,500.00. Following the completion of the sale, the director now owns 972,078 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey A. Craig acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $2.95 per share, with a total value of $147,500.00. Following the completion of the acquisition, the director now directly owns 282,060 shares in the company, valued at $832,077. The trade was a 21.55 % increase in their position. The disclosure for this purchase can be found here. Insiders own 20.40% of the company’s stock.

Institutional Trading of Hyliion

Several large investors have recently bought and sold shares of the company. Millennium Management LLC grew its position in Hyliion by 64.8% during the 2nd quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock valued at $7,672,000 after purchasing an additional 1,861,497 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Hyliion by 11.7% during the first quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after acquiring an additional 762,909 shares in the last quarter. HITE Hedge Asset Management LLC raised its holdings in Hyliion by 130.6% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company’s stock worth $2,315,000 after acquiring an additional 528,750 shares during the last quarter. Barclays PLC raised its stake in shares of Hyliion by 272.1% in the third quarter. Barclays PLC now owns 184,685 shares of the company’s stock worth $459,000 after purchasing an additional 135,055 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Hyliion by 79.3% during the third quarter. Jane Street Group LLC now owns 265,302 shares of the company’s stock valued at $658,000 after purchasing an additional 117,358 shares in the last quarter. 22.81% of the stock is owned by institutional investors.

About Hyliion