Hyliion (NYSE:HYLN) Reaches New 52-Week High – Still a Buy?

Hyliion Holdings Corp. (NYSE:HYLN) shares hit a new 52-week high on Tuesday . The stock traded as high as $3.09 and last traded at $3.08, with a volume of 520041 shares trading hands. The stock had previously closed at $2.80.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HYLN. Northland Securities upped their price target on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Northland Capmk raised Hyliion to a “hold” rating in a report on Tuesday, October 1st.

Hyliion Stock Performance

The stock has a 50 day moving average of $2.46 and a 200-day moving average of $2.00. The company has a market cap of $505.99 million, a PE ratio of -7.88 and a beta of 1.91.

Insider Activity

In related news, Director Jeffrey A. Craig bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $2.95 per share, with a total value of $147,500.00. Following the completion of the acquisition, the director now directly owns 282,060 shares in the company, valued at approximately $832,077. The trade was a 21.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Govindaraj Ramasamy purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $1.92 per share, with a total value of $57,600.00. Following the completion of the acquisition, the insider now directly owns 298,000 shares of the company’s stock, valued at $572,160. This trade represents a 11.19 % increase in their position. The disclosure for this purchase can be found here. Insiders own 20.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Creative Planning acquired a new position in Hyliion in the 3rd quarter worth about $29,000. XTX Topco Ltd acquired a new position in shares of Hyliion during the 3rd quarter worth approximately $60,000. AQR Capital Management LLC acquired a new stake in Hyliion in the 2nd quarter valued at $40,000. Intech Investment Management LLC purchased a new stake in Hyliion in the 3rd quarter worth $77,000. Finally, Verition Fund Management LLC lifted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 22.81% of the company’s stock.

About Hyliion