Hyliion Holdings Corp. $HYLN Shares Purchased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC boosted its position in Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) by 121.9% in the 4th quarter, Holdings Channel reports. The firm owned 2,827,742 shares of the company’s stock after acquiring an additional 1,553,626 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Hyliion were worth $5,203,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Hyliion by 27.4% in the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after purchasing an additional 1,355,951 shares during the last quarter. Invesco Ltd. raised its stake in Hyliion by 7.9% in the 3rd quarter. Invesco Ltd. now owns 3,546,795 shares of the company’s stock valued at $6,987,000 after purchasing an additional 258,264 shares during the last quarter. Geode Capital Management LLC raised its stake in Hyliion by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,973,357 shares of the company’s stock valued at $5,472,000 after purchasing an additional 59,019 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Hyliion by 13.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 596,221 shares of the company’s stock valued at $1,098,000 after purchasing an additional 69,798 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Hyliion in the 2nd quarter valued at $386,000. 22.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC assumed coverage on Hyliion in a research note on Wednesday. They issued a “buy” rating and a $9.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Hyliion Stock Performance

NYSEAMERICAN HYLN opened at $7.40 on Friday. Hyliion Holdings Corp. has a one year low of $1.30 and a one year high of $7.97. The company has a market cap of $1.32 billion, a P/E ratio of -24.67 and a beta of 3.43. The business has a fifty day moving average price of $3.83 and a 200 day moving average price of $2.62.

Hyliion Profile

Hyliion Holdings Corp. develops electrified powertrain solutions aimed at reducing fuel consumption and emissions for Class 8 commercial vehicles. Its flagship offerings include the Hypertruck ERX electric axle and hybrid powertrain systems that integrate battery packs with onboard natural gas generators. These modular solutions are designed to retrofit existing diesel trucks or to be incorporated by original equipment manufacturers, allowing fleets to transition toward lower-carbon operations without replacing entire fleets.

Founded in 2015 by Thomas Healy and based in Austin, Texas, Hyliion went public in 2020 via a special purpose acquisition company (SPAC) merger.