Hyliion (NYSEAMERICAN:HYLN) Shares Gap Up – What’s Next?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares gapped up prior to trading on Monday . The stock had previously closed at $4.42, but opened at $4.72. Hyliion shares last traded at $4.6140, with a volume of 862,613 shares trading hands.

Analysts Set New Price Targets

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

Hyliion Stock Performance

The firm has a market cap of $929.10 million, a P/E ratio of -17.37 and a beta of 3.43. The firm’s fifty day moving average is $4.92 and its 200 day moving average is $3.01.

Hedge Funds Weigh In On Hyliion

A number of large investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new stake in Hyliion in the 3rd quarter valued at $26,000. Cubist Systematic Strategies LLC bought a new position in Hyliion during the 1st quarter worth $26,000. Hsbc Holdings PLC acquired a new stake in shares of Hyliion during the first quarter worth $27,000. Brevan Howard Capital Management LP acquired a new stake in shares of Hyliion during the second quarter worth $30,000. Finally, XTX Topco Ltd bought a new stake in shares of Hyliion in the second quarter valued at about $34,000. Institutional investors own 22.81% of the company’s stock.

Hyliion Company 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.