Hyliion (NYSEAMERICAN:HYLN) Issues Earnings Results, Meets Estimates

Hyliion (NYSEAMERICAN:HYLN) released its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08), FiscalAI reports. Hyliion had a negative return on equity of 26.05% and a negative net margin of 888.12%.The business had revenue of $4.94 million for the quarter, compared to analysts’ expectations of $2.40 million.

Hyliion Stock Up 12.3%

Hyliion stock opened at $4.40 on Wednesday. Hyliion has a 52-week low of $1.47 and a 52-week high of $8.49. The company has a market cap of $784.83 million, a P/E ratio of -14.93 and a beta of 3.52. The business has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $3.42.

Hedge Funds Weigh In On Hyliion

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. bought a new position in Hyliion in the third quarter worth approximately $26,000. 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 shares of Hyliion in the 3rd quarter worth $37,000. Brevan Howard Capital Management LP purchased a new stake in shares of Hyliion in the 2nd quarter worth $30,000. Finally, XTX Topco Ltd bought a new position in Hyliion in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Analysts Set New Price Targets

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

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.