Hyliion (NYSE:HYLN) Reaches New 52-Week High - Should You Buy?

Hyliion Holdings Corp. (NYSE:HYLN - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $2.93 and last traded at $2.92, with a volume of 125505 shares trading hands. The stock had previously closed at $2.88.

Analysts Set New Price Targets

HYLN has been the subject of several analyst reports. Northland Capmk raised Hyliion to a "hold" rating in a report on Tuesday, October 1st. Northland Securities increased their price objective on Hyliion from $1.50 to $2.00 and gave the company a "market perform" rating in a report on Tuesday, August 13th.

Hyliion Trading Down 6.6 %

The company has a 50-day moving average of $2.33 and a 200 day moving average of $1.95.

Insider Activity

In other Hyliion news, insider Govindaraj Ramasamy bought 30,000 shares of Hyliion stock in a transaction on Wednesday, September 11th. The shares were purchased at an average cost of $1.92 per share, for a total transaction of $57,600.00. Following the completion of the acquisition, the insider now owns 298,000 shares in the company, valued at approximately $572,160. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 20.40% of the company's stock.

Hedge Funds Weigh In On Hyliion

A number of institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased 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 valued at $184,000 after purchasing an additional 8,580 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Hyliion by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company's stock worth $94,000 after purchasing an additional 9,948 shares in the last quarter. Creative Planning bought a new position in shares of Hyliion during the 3rd quarter worth about $29,000. Charles Schwab Investment Management Inc. lifted its position in Hyliion by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,394 shares of the company's stock valued at $2,622,000 after acquiring an additional 20,541 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in Hyliion in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 22.81% of the company's stock.

Hyliion Company Profile