Bank of New York Mellon Corp Grows Position in Hyliion Holdings Corp. (NYSE:HYLN)

Bank of New York Mellon Corp raised its holdings in Hyliion Holdings Corp. (NYSE:HYLN) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 574,988 shares of the company’s stock after purchasing an additional 51,794 shares during the period. Bank of New York Mellon Corp owned 0.33% of Hyliion worth $931,000 at the end of the most recent reporting period.

Separately, Price T Rowe Associates Inc. MD raised its stake in shares of Hyliion by 9.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 104,086 shares of the company’s stock valued at $184,000 after purchasing an additional 8,580 shares during the period. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Northland Securities raised their target price on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th.

Insider Buying and Selling

In other Hyliion news, insider Govindaraj Ramasamy purchased 30,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $1.92 per share, with a total value of $57,600.00. Following the acquisition, the insider now directly owns 298,000 shares in the company, valued at approximately $572,160. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 20.40% of the stock is owned by company insiders.

Hyliion Trading Down 4.6 %

Hyliion stock opened at $2.06 on Friday. Hyliion Holdings Corp. has a 1-year low of $0.52 and a 1-year high of $2.61. The firm has a market capitalization of $358.51 million, a PE ratio of -3.38 and a beta of 1.89. The firm’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $1.71.

Hyliion (NYSE:HYLN) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Research analysts forecast that Hyliion Holdings Corp. will post -0.29 earnings per share for the current year.

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