Hyliion Holdings Corp. (NYSE:HYLN) Expected to Earn Q3 2024 Earnings of ($0.07) Per Share

Hyliion Holdings Corp. (NYSE:HYLN) – Analysts at Northland Capmk issued their Q3 2024 earnings per share estimates for Hyliion in a report released on Tuesday, October 1st. Northland Capmk analyst E. Jackson expects that the company will post earnings per share of ($0.07) for the quarter. Northland Capmk has a “Hold” rating on the stock. The consensus estimate for Hyliion’s current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for Hyliion’s Q4 2024 earnings at ($0.07) EPS and FY2024 earnings at ($0.29) EPS.

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

Hyliion Price Performance

Shares of Hyliion stock opened at $2.43 on Thursday. The stock has a market capitalization of $421.80 million, a PE ratio of -3.98 and a beta of 1.89. Hyliion has a 1-year low of $0.52 and a 1-year high of $2.73. The company’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $1.74.

Hyliion (NYSE:HYLN) last announced its earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02.

Institutional Investors Weigh In On Hyliion

A number of institutional investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC bought a new position in shares of Hyliion in the second quarter worth about $656,000. Bank of New York Mellon Corp boosted its stake in Hyliion by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock worth $931,000 after purchasing an additional 51,794 shares during the period. Vanguard Group Inc. grew its holdings in Hyliion by 11.7% during 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 in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 buying an additional 8,580 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Hyliion by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company’s stock valued at $94,000 after buying an additional 9,948 shares during the last quarter. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Govindaraj Ramasamy purchased 30,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were acquired at an average price of $1.92 per share, with a total value of $57,600.00. Following the completion of the acquisition, the insider now directly owns 298,000 shares of the company’s stock, valued at $572,160. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.40% of the stock is currently owned by insiders.

Hyliion Company Profile