Hyzon Motors (NASDAQ:HYZN) Stock Price Down 6%

Hyzon Motors Inc. (NASDAQ:HYZN)’s share price dropped 6% on Thursday . The company traded as low as $2.36 and last traded at $2.37. Approximately 24,172 shares traded hands during trading, a decline of 71% from the average daily volume of 82,541 shares. The stock had previously closed at $2.52.

Hyzon Motors Stock Performance

The firm has a market cap of $588.80 million, a price-to-earnings ratio of -3.08 and a beta of 2.88. The firm’s 50 day moving average is $0.19 and its 200-day moving average is $0.44.

Hyzon Motors (NASDAQ:HYZN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). The firm had revenue of $0.31 million during the quarter, compared to analyst estimates of $1.00 million. During the same quarter in the previous year, the firm earned ($0.25) EPS. As a group, research analysts predict that Hyzon Motors Inc. will post -0.58 EPS for the current year.

Insider Activity at Hyzon Motors

In related news, major shareholder Fuel Cell Technologies Horizon sold 500,000 shares of Hyzon Motors stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $0.07, for a total transaction of $35,000.00. Following the completion of the sale, the insider now directly owns 35,478,275 shares of the company’s stock, valued at $2,483,479.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 11,722,872 shares of company stock valued at $948,109 over the last ninety days. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Hyzon Motors

An institutional investor recently raised its position in Hyzon Motors stock. Vanguard Group Inc. boosted its stake in shares of Hyzon Motors Inc. (NASDAQ:HYZN) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,745,622 shares of the company’s stock after buying an additional 48,833 shares during the period. Vanguard Group Inc. owned approximately 1.53% of Hyzon Motors worth $2,760,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 61.41% of the company’s stock.

About Hyzon Motors

Hyzon Motors Inc supplies hydrogen fuel cell systems for decarbonization applications in various industries. The company commercializes its proprietary fuel cell technology through assembling and upfitting heavy duty (HD) hydrogen fuel cell electric vehicles (FCEVs). It also focuses primarily on assembling and converting hydrogen-powered FCEVs; and building and fostering a clean hydrogen supply ecosystem with partners and third parties from feedstock through hydrogen production, dispensing, and financing.