Hyliion (NYSEAMERICAN:HYLN) Stock Price Down 9.3% – What’s Next?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares fell 9.3% on Tuesday . The company traded as low as $6.70 and last traded at $6.6830. Approximately 1,354,615 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 2,373,329 shares. The stock had previously closed at $7.37.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC assumed coverage on shares of Hyliion in a report on Wednesday, June 10th. They set a “buy” rating and a $9.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.00.

Hyliion Stock Performance

The business has a 50 day moving average of $4.54 and a two-hundred day moving average of $2.88. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -21.09 and a beta of 3.41.

Institutional Investors Weigh In On Hyliion

Large investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new position in Hyliion in the 3rd quarter worth approximately $26,000. Hsbc Holdings PLC purchased a new position in shares of Hyliion in the first quarter valued at $27,000. Cubist Systematic Strategies LLC bought a new stake in shares of Hyliion during the 1st quarter valued at $26,000. Banco BTG Pactual S.A. purchased a new stake in Hyliion during the 3rd quarter worth about $37,000. Finally, Savant Capital LLC purchased a new stake in Hyliion during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 22.81% of the company’s stock.

About Hyliion

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.