Hyliion (NYSEAMERICAN:HYLN) Raised to Outperform at Northland Securities

Hyliion (NYSEAMERICAN:HYLN) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research note issued on Thursday,Benzinga reports. The firm presently has a $10.00 price objective on the stock. Northland Securities’ price objective indicates a potential upside of 157.07% from the company’s previous close.

Separately, Needham & Company LLC assumed coverage on shares of Hyliion in a report on Wednesday, June 10th. They issued a “buy” rating and a $9.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.00.

Hyliion Price Performance

Shares of NYSEAMERICAN HYLN opened at $3.89 on Thursday. The company’s 50 day simple moving average is $4.96 and its 200 day simple moving average is $3.43. The firm has a market capitalization of $693.70 million, a P/E ratio of -12.97 and a beta of 3.52. Hyliion has a fifty-two week low of $1.47 and a fifty-two week high of $8.49.

Hyliion (NYSEAMERICAN:HYLN) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Hyliion had a negative return on equity of 27.10% and a negative net margin of 564.34%.The company had revenue of $4.94 million during the quarter, compared to analysts’ expectations of $2.40 million. Sell-side analysts expect that Hyliion will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Hyliion in the first quarter worth $26,000. AQR Capital Management LLC lifted its holdings in Hyliion by 15.1% during the 1st quarter. AQR Capital Management LLC now owns 76,957 shares of the company’s stock worth $108,000 after buying an additional 10,076 shares during the period. Millennium Management LLC grew its position in shares of 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 buying an additional 1,355,951 shares during the last quarter. Jane Street Group LLC grew its position in shares of Hyliion by 941.8% in the 1st quarter. Jane Street Group LLC now owns 114,997 shares of the company’s stock valued at $161,000 after buying an additional 103,959 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Hyliion in the first quarter valued at about $214,000. Institutional investors and hedge funds 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.