Hyliion (NYSE:HYLN) Stock Price Up 14.6% – Here’s What Happened

Hyliion Holdings Corp. (NYSE:HYLN)’s stock price traded up 14.6% during mid-day trading on Monday . The stock traded as high as $2.92 and last traded at $2.91. 910,396 shares were traded during trading, a decline of 4% from the average session volume of 947,200 shares. The stock had previously closed at $2.54.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Northland Capmk raised Hyliion to a “hold” rating in a research note on Tuesday, October 1st. Northland Securities upped 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.

Hyliion Stock Up 10.2 %

The company has a market cap of $486.02 million, a PE ratio of -7.41 and a beta of 1.91. The company has a 50-day moving average of $2.39 and a 200-day moving average of $1.98.

Insider Activity

In other news, insider Govindaraj Ramasamy acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $1.92 per share, for a total transaction of $57,600.00. Following the completion of the purchase, the insider now owns 298,000 shares in the company, valued at approximately $572,160. This trade represents a 11.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 20.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hyliion

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in 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. Millennium Management LLC boosted its stake in shares of Hyliion by 64.8% in 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 in the last quarter. State Street Corp grew its position in 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 acquiring an additional 16,707 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hyliion by 2.0% in the third 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 period. Finally, HITE Hedge Asset Management LLC increased its position in shares of Hyliion by 130.6% in the third quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company’s stock valued at $2,315,000 after acquiring an additional 528,750 shares during the period. 22.81% of the stock is currently owned by institutional investors.

Hyliion Company Profile