Hyliion (NYSE:HYLN) Sees Unusually-High Trading Volume – What’s Next?

Shares of Hyliion Holdings Corp. (NYSE:HYLN) saw unusually-strong trading volume on Friday . Approximately 1,001,340 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 976,350 shares.The stock last traded at $3.92 and had previously closed at $3.71.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Northland Capmk upgraded shares of Hyliion to a “hold” rating in a report on Tuesday, October 1st. Northland Securities raised 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.

Hyliion Stock Performance

The firm has a market capitalization of $668.28 million, a P/E ratio of -10.65 and a beta of 1.91. The company has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $2.02.

Insider Buying and Selling at Hyliion

In related news, insider Govindaraj Ramasamy purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $1.92 per share, for a total transaction of $57,600.00. Following the purchase, the insider now directly owns 298,000 shares of the company’s stock, valued at approximately $572,160. This represents a 11.19 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Craig bought 50,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $2.95 per share, for a total transaction of $147,500.00. Following the completion of the acquisition, the director now directly owns 282,060 shares of the company’s stock, valued at approximately $832,077. This represents 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.

Hedge Funds Weigh In On Hyliion

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

About Hyliion