Hyzon Motors (NASDAQ:HYZN) Shares Down 7.9% – Should You Sell?

Shares of Hyzon Motors Inc. (NASDAQ:HYZN) dropped 7.9% on Wednesday . The stock traded as low as $2.25 and last traded at $2.35. Approximately 945,780 shares were traded during trading, an increase of 244% from the average daily volume of 275,146 shares. The stock had previously closed at $2.55.

Hyzon Motors Stock Down 13.0 %

The firm has a 50 day moving average of $2.58 and a two-hundred day moving average of $14.30. The firm has a market capitalization of $462.63 million, a price-to-earnings ratio of -2.43 and a beta of 2.85.

Hyzon Motors (NASDAQ:HYZN) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($10.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($7.50) by ($3.00). The firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $1.00 million. During the same quarter in the prior year, the firm posted ($12.50) EPS.

Insiders Place Their Bets

In other news, major shareholder Fuel Cell Technologies Horizon sold 10,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.50, for a total value of $35,000.00. Following the completion of the transaction, the insider now directly owns 709,565 shares in the company, valued at approximately $2,483,477.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 234,455 shares of company stock valued at $948,098. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hyzon Motors stock. Van ECK Associates Corp boosted its holdings in shares of Hyzon Motors Inc. (NASDAQ:HYZN) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,022,830 shares of the company’s stock after acquiring an additional 111,431 shares during the quarter. Van ECK Associates Corp owned 0.41% of Hyzon Motors worth $328,000 at the end of the most recent quarter. Institutional investors own 61.41% of the company’s stock.

About Hyzon Motors

Hyzon Motors Inc supplies hydrogen fuel cell systems for decarbonization applications in various industries. The company commercializes its proprietary fuel cell technology through assembling and upfitting heavy duty (HD) hydrogen fuel cell electric vehicles (FCEVs). It also focuses primarily on assembling and converting hydrogen-powered FCEVs; and building and fostering a clean hydrogen supply ecosystem with partners and third parties from feedstock through hydrogen production, dispensing, and financing.