Hyliion (NYSE:HYLN) Hits New 1-Year High – Here’s Why

Hyliion Holdings Corp. (NYSE:HYLN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $2.93 and last traded at $2.92, with a volume of 125505 shares traded. The stock had previously closed at $2.88.

Analyst Ratings Changes

A number of analysts have commented on the stock. Northland Securities increased their price target on shares of Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. Northland Capmk upgraded shares of Hyliion to a “hold” rating in a research note on Tuesday, October 1st.

Hyliion Price Performance

The company has a market capitalization of $453.04 million, a P/E ratio of -5.60 and a beta of 1.91. The company’s 50-day moving average price is $2.35 and its two-hundred day moving average price is $1.96.

Insider Buying and Selling

In other Hyliion news, insider Govindaraj Ramasamy purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $1.92 per share, with a total value of $57,600.00. Following the completion of the transaction, the insider now owns 298,000 shares in the company, valued at $572,160. The trade was a 11.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Hyliion

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Hyliion by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after buying an additional 762,909 shares during the period. Millennium Management LLC boosted its stake in shares of Hyliion by 64.8% in the 2nd quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock valued at $7,672,000 after purchasing an additional 1,861,497 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Hyliion by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,394 shares of the company’s stock valued at $2,622,000 after purchasing an additional 20,541 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hyliion by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock valued at $931,000 after purchasing an additional 51,794 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Hyliion in the 2nd quarter valued at approximately $656,000. 22.81% of the stock is owned by institutional investors.

About Hyliion