Hyliion FY2024 EPS Forecast Boosted by Northland Capmk

Hyliion Holdings Corp. (NYSE:HYLN - Free Report) - Analysts at Northland Capmk increased their FY2024 earnings per share (EPS) estimates for shares of Hyliion in a research note issued to investors on Tuesday, November 19th. Northland Capmk analyst E. Jackson now expects that the company will earn ($0.28) per share for the year, up from their previous forecast of ($0.29). Northland Capmk has a "Hold" rating on the stock. The consensus estimate for Hyliion's current full-year earnings is ($0.29) per share.

Separately, Northland Securities increased 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 Stock Up 26.6 %

HYLN stock traded up $0.77 during midday trading on Thursday, hitting $3.68. The company's stock had a trading volume of 4,768,954 shares, compared to its average volume of 977,240. The firm has a market capitalization of $639.59 million, a price-to-earnings ratio of -9.96 and a beta of 1.91. Hyliion has a 12 month low of $0.55 and a 12 month high of $3.80. The company has a 50 day moving average of $2.49 and a two-hundred day moving average of $2.02.

Institutional Trading of Hyliion

A number of hedge funds and other institutional investors have recently bought and sold shares of HYLN. Millennium Management LLC grew its position in shares of Hyliion by 64.8% during the 2nd quarter. Millennium Management LLC now owns 4,735,608 shares of the company's stock worth $7,672,000 after buying an additional 1,861,497 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Hyliion by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company's stock worth $12,833,000 after buying an additional 762,909 shares in the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Hyliion by 130.6% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company's stock worth $2,315,000 after buying an additional 528,750 shares in the last quarter. Barclays PLC grew its position in shares of Hyliion by 272.1% during the 3rd quarter. Barclays PLC now owns 184,685 shares of the company's stock worth $459,000 after buying an additional 135,055 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Hyliion by 79.3% during the 3rd quarter. Jane Street Group LLC now owns 265,302 shares of the company's stock worth $658,000 after buying an additional 117,358 shares in the last quarter. Hedge funds and other institutional investors own 22.81% of the company's stock.

Insider Activity at Hyliion

In other Hyliion news, Director Jeffrey A. Craig bought 50,000 shares of Hyliion stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $2.95 per share, for a total transaction of $147,500.00. Following the completion of the purchase, the director now directly owns 282,060 shares in the company, valued at approximately $832,077. This trade represents a 21.55 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Govindaraj Ramasamy bought 30,000 shares of Hyliion stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $1.92 per share, for a total transaction of $57,600.00. Following the purchase, the insider now owns 298,000 shares of the company's stock, valued at approximately $572,160. This trade represents a 11.19 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 20.40% of the stock is currently owned by insiders.

Hyliion Company Profile