Hyliion (NYSE:HYLN) Shares Up 14.6% – Here’s Why

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Northland Capmk raised shares of Hyliion to a “hold” rating in a research report on Tuesday, October 1st. Northland Securities boosted their target price on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th.

Hyliion Price Performance

The stock has a market capitalization of $505.99 million, a price-to-earnings ratio of -7.92 and a beta of 1.91. The business’s fifty day moving average price is $2.44 and its 200-day moving average price is $2.00.

Insider Activity at Hyliion

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

Institutional Trading of Hyliion

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Hyliion by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 104,086 shares of the company’s stock worth $184,000 after buying an additional 8,580 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Hyliion by 20.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company’s stock valued at $94,000 after purchasing an additional 9,948 shares in the last quarter. Verition Fund Management LLC grew its holdings in shares of Hyliion by 52.9% during the 3rd quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock valued at $84,000 after purchasing an additional 11,653 shares during the last quarter. Creative Planning purchased a new position in Hyliion in the 3rd quarter worth $29,000. Finally, State Street Corp boosted its position in 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 buying an additional 16,707 shares during the period. Institutional investors own 22.81% of the company’s stock.

Hyliion Company Profile