Hyliion (NYSE:HYLN) Shares Gap Up After Insider Buying Activity

Hyliion Holdings Corp. (NYSE:HYLN) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $2.91, but opened at $3.11. Hyliion shares last traded at $3.17, with a volume of 402,038 shares trading hands.

Specifically, Director Jeffrey A. Craig bought 50,000 shares of Hyliion stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $2.95 per share, for a total transaction of $147,500.00. Following the purchase, the director now directly owns 282,060 shares in the company, valued at approximately $832,077. This represents a 21.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of brokerages have commented on HYLN. Northland Capmk raised Hyliion to a “hold” rating in a research note on Tuesday, October 1st. Northland Securities upped their price objective on shares of Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th.

Hyliion Trading Up 26.6 %

The stock’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.02. The firm has a market capitalization of $639.59 million, a P/E ratio of -9.96 and a beta of 1.91.

Institutional Trading of Hyliion

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Hyliion by 11.7% in the first quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after acquiring an additional 762,909 shares during the last quarter. Millennium Management LLC raised its position in shares of Hyliion by 64.8% in the second 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 during the period. State Street Corp lifted its stake in shares of Hyliion by 0.6% during the 3rd quarter. State Street Corp now owns 2,985,109 shares of the company’s stock valued at $7,403,000 after buying an additional 16,707 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hyliion by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,394 shares of the company’s stock worth $2,622,000 after acquiring an additional 20,541 shares during the period. Finally, HITE Hedge Asset Management LLC grew its holdings in Hyliion by 130.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company’s stock valued at $2,315,000 after buying an additional 528,750 shares in the last quarter. 22.81% of the stock is owned by hedge funds and other institutional investors.

About Hyliion