Jacobs Levy Equity Management Inc. Sells 281,690 Shares of Hyliion Holdings Corp. (NYSE:HYLN)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Hyliion Holdings Corp. (NYSE:HYLN - Free Report) by 66.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,130 shares of the company's stock after selling 281,690 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.08% of Hyliion worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. HITE Hedge Asset Management LLC lifted its stake in shares of Hyliion by 130.6% in the third 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 during the period. Verition Fund Management LLC increased its position in shares of Hyliion by 52.9% during the third 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 period. Charles Schwab Investment Management Inc. raised its stake 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 valued at $2,622,000 after purchasing an additional 20,541 shares in the last quarter. Intech Investment Management LLC bought a new position in Hyliion in the third quarter worth $77,000. Finally, Creative Planning acquired a new stake in Hyliion during the third quarter worth $29,000. 22.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Hyliion

In other news, Director Jeffrey A. Craig bought 50,000 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $2.95 per share, for a total transaction of $147,500.00. Following the completion of the acquisition, the director now 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vincent T. Cubbage sold 65,000 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $3.90, for a total transaction of $253,500.00. Following the completion of the transaction, the director now owns 972,078 shares of the company's stock, valued at $3,791,104.20. This trade represents a 6.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.40% of the company's stock.

Hyliion Price Performance

Shares of HYLN stock traded down $0.04 during trading hours on Tuesday, hitting $3.24. 496,132 shares of the company's stock were exchanged, compared to its average volume of 1,008,701. The stock's 50-day moving average is $2.79 and its 200-day moving average is $2.19. Hyliion Holdings Corp. has a 52 week low of $0.59 and a 52 week high of $4.09. The stock has a market cap of $562.90 million, a price-to-earnings ratio of -8.86 and a beta of 2.03.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HYLN shares. Northland Securities upped their target price on shares of Hyliion from $1.50 to $2.00 and gave the company 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.

About Hyliion