Hyliion (NYSEAMERICAN:HYLN) Posts Earnings Results, Beats Expectations By $0.02 EPS

Hyliion (NYSEAMERICAN:HYLN) posted its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02, FiscalAI reports. Hyliion had a negative net margin of 564.34% and a negative return on equity of 27.94%. The company had revenue of $7.45 million for the quarter, compared to analyst estimates of $4.17 million.

Hyliion Stock Down 0.2%

Hyliion stock opened at $2.98 on Wednesday. The firm has a 50 day moving average price of $3.64 and a 200-day moving average price of $3.47. Hyliion has a twelve month low of $1.56 and a twelve month high of $8.49. The company has a market capitalization of $533.12 million, a P/E ratio of -10.87 and a beta of 3.74.

Analysts Set New Price Targets

HYLN has been the subject of a number of recent research reports. Northland Securities raised Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Thursday, August 13th. Craig Hallum started coverage on Hyliion in a report on Tuesday, September 29th. They issued a “buy” rating and a $7.00 target price on the stock. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $8.67.

Insider Activity at Hyliion

In other news, Director Vincent Cubbage acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average price of $3.40 per share, for a total transaction of $170,000.00. Following the completion of the purchase, the director owned 1,131,363 shares in the company, valued at approximately $3,846,634.20. This trade represents a 4.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 21.40% of the company’s stock.

Hyliion Company Profile

Hyliion Holdings Corp. develops power generation technology for commercial and industrial applications. Its primary product is the KARNO power module, a distributed generator designed to produce electricity using a range of fuels. The company is developing the system for uses that may include data centers, industrial facilities and other sites needing on-site power. Hyliion was founded in 2015 by Thomas Healy, who serves as its chief executive officer. The company previously developed electrified powertrain systems for heavy-duty trucks before shifting its focus to stationary power generation.