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

Shares of Hyliion Holdings Corp. (NYSE:HYLNGet Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $2.93 and last traded at $2.92, with a volume of 125505 shares traded. The stock had previously closed at $2.88.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Northland Securities boosted their target price on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Northland Capmk upgraded Hyliion to a “hold” rating in a research note on Tuesday, October 1st.

Get Our Latest Stock Analysis on HYLN

Hyliion Price Performance

The business has a fifty day moving average price of $2.33 and a two-hundred day moving average price of $1.95. The firm has a market capitalization of $508.59 million, a price-to-earnings ratio of -6.00 and a beta of 1.91.

Insider Activity

In other news, insider Govindaraj Ramasamy acquired 30,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average cost of $1.92 per share, with a total value of $57,600.00. Following the completion of the acquisition, the insider now owns 298,000 shares of the company’s stock, valued at approximately $572,160. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 20.40% of the company’s stock.

Institutional Trading of Hyliion

Several hedge funds and other institutional investors have recently bought and sold shares of HYLN. Creative Planning acquired a new stake in Hyliion during the third quarter worth about $29,000. AQR Capital Management LLC acquired a new stake in Hyliion during the second quarter worth about $40,000. Intech Investment Management LLC acquired a new stake in Hyliion during the third quarter worth about $77,000. The Manufacturers Life Insurance Company grew its holdings in Hyliion by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company’s stock worth $94,000 after acquiring an additional 9,948 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Hyliion by 9.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 104,086 shares of the company’s stock worth $184,000 after purchasing an additional 8,580 shares in the last quarter. 22.81% of the stock is owned by institutional investors and hedge funds.

About Hyliion

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