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

Hyliion Holdings Corp. (NYSE:HYLN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $4.09 and last traded at $4.04, with a volume of 1214807 shares traded. The stock had previously closed at $3.84.

Analysts Set New Price Targets

HYLN has been the topic of a number of analyst reports. Northland Capmk upgraded Hyliion to a “hold” rating in a research report on Tuesday, October 1st. Northland Securities lifted their price objective on Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th.

Hyliion Stock Down 0.5 %

The stock has a 50-day simple moving average of $2.53 and a 200 day simple moving average of $2.04.

Insider Buying and Selling at Hyliion

In other news, Director Vincent T. Cubbage sold 65,000 shares of Hyliion stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $3.90, for a total value of $253,500.00. Following the completion of the sale, the director now directly owns 972,078 shares of the company’s stock, valued at approximately $3,791,104.20. The trade was a 6.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey A. Craig acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $2.95 per share, with a total value of $147,500.00. Following the completion of the purchase, the director now directly owns 282,060 shares of the company’s stock, valued at approximately $832,077. This represents a 21.55 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 20.40% of the company’s stock.

Institutional Investors Weigh In On Hyliion

A number of institutional investors have recently modified their holdings of HYLN. Millennium Management LLC grew its stake in shares of Hyliion by 64.8% in the second quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock valued at $7,672,000 after buying an additional 1,861,497 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 purchasing an additional 762,909 shares in the last quarter. HITE Hedge Asset Management LLC grew its stake in 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 purchasing an additional 528,750 shares in the last quarter. Barclays PLC grew its stake in Hyliion by 272.1% during the 3rd quarter. Barclays PLC now owns 184,685 shares of the company’s stock worth $459,000 after purchasing an additional 135,055 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in 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 purchasing an additional 117,358 shares in the last quarter. 22.81% of the stock is owned by institutional investors and hedge funds.

About Hyliion