Hyliion (NYSE:HYLN) Trading Down 5.9% – Should You Sell?

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

Wall Street Analyst Weigh In

Several research analysts recently commented on HYLN shares. Northland Securities boosted their price target 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 shares of Hyliion to a “hold” rating in a research note on Tuesday, October 1st.

Hyliion Stock Down 6.5 %

The stock has a market cap of $526.41 million, a price-to-earnings ratio of -8.77 and a beta of 2.03. The firm’s 50 day moving average is $2.81 and its two-hundred day moving average is $2.20.

Insider Activity at Hyliion

In other news, Director Vincent T. Cubbage sold 65,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were 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 represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey A. Craig acquired 50,000 shares of Hyliion stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $2.95 per share, with a total value of $147,500.00. Following the transaction, the director now owns 282,060 shares of the company’s stock, valued at approximately $832,077. The trade was a 21.55 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 20.40% of the company’s stock.

Institutional Trading of Hyliion

Several institutional investors have recently made changes to their positions in HYLN. Creative Planning bought a new position in Hyliion in the 3rd quarter worth approximately $29,000. XTX Topco Ltd acquired a new stake in shares of Hyliion during the third quarter worth about $60,000. AQR Capital Management LLC acquired a new stake in shares of Hyliion during the second quarter worth $40,000. Intech Investment Management LLC bought a new position in Hyliion during the 3rd quarter worth about $77,000. Finally, Verition Fund Management LLC boosted its position in Hyliion by 52.9% during the 3rd quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock worth $84,000 after acquiring an additional 11,653 shares during the last quarter. 22.81% of the stock is currently owned by institutional investors and hedge funds.

Hyliion Company Profile