Hyliion (NYSE:HYLN) Sees Large Volume Increase – What’s Next?

Hyliion Holdings Corp. (NYSE:HYLN) saw an uptick in trading volume on Friday . 1,001,340 shares traded hands during trading, an increase of 3% from the previous session’s volume of 976,350 shares.The stock last traded at $3.92 and had previously closed at $3.71.

Analysts Set New Price Targets

Several research analysts have commented on HYLN shares. Northland Securities lifted their price target on shares of Hyliion from $1.50 to $2.00 and gave the stock 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 report on Tuesday, October 1st.

Hyliion Stock Up 3.5 %

The firm’s fifty day moving average price is $2.53 and its 200-day moving average price is $2.03. The stock has a market cap of $667.14 million, a P/E ratio of -10.38 and a beta of 1.91.

Insider Activity

In other news, Director Jeffrey A. Craig bought 50,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price 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 $832,077. This trade represents a 21.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Govindaraj Ramasamy purchased 30,000 shares of Hyliion stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average cost of $1.92 per share, for a total transaction of $57,600.00. Following the completion of the purchase, the insider now owns 298,000 shares of the company’s stock, valued at $572,160. This trade represents a 11.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On Hyliion

Several hedge funds have recently bought and sold shares of HYLN. Price T Rowe Associates Inc. MD boosted its holdings in Hyliion by 9.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 104,086 shares of the company’s stock worth $184,000 after acquiring an additional 8,580 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Hyliion by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company’s stock valued at $94,000 after purchasing an additional 9,948 shares during the last quarter. Verition Fund Management LLC grew its position in Hyliion by 52.9% during the 3rd quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock valued at $84,000 after purchasing an additional 11,653 shares during the last quarter. Creative Planning purchased a new position in Hyliion in the third quarter worth about $29,000. Finally, State Street Corp lifted its stake in shares of Hyliion by 0.6% in the third quarter. State Street Corp now owns 2,985,109 shares of the company’s stock worth $7,403,000 after buying an additional 16,707 shares in the last quarter. Institutional investors own 22.81% of the company’s stock.

Hyliion Company Profile