Hyliion (NYSE:HYLN) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Hyliion (NYSE:HYLNGet Rating) from a neutral rating to an underweight rating in a research note published on Tuesday morning, Marketbeat.com reports.

Several other equities analysts also recently commented on HYLN. UBS Group upgraded shares of Hyliion from a sell rating to a neutral rating and decreased their price target for the company from $4.50 to $4.00 in a research note on Wednesday, March 2nd. Barclays reduced their price objective on shares of Hyliion from $7.00 to $4.00 and set an equal weight rating on the stock in a research note on Thursday, March 10th.

HYLN stock opened at $3.96 on Tuesday. The company’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $4.29. Hyliion has a 52 week low of $2.69 and a 52 week high of $12.75. The company has a market capitalization of $687.33 million, a PE ratio of -6.49 and a beta of 1.12.

Hyliion (NYSE:HYLNGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.16) EPS for the quarter. The company had revenue of $0.34 million for the quarter. During the same period in the prior year, the firm earned ($0.10) EPS. On average, equities research analysts anticipate that Hyliion will post -0.8 earnings per share for the current fiscal year.

In other news, CTO Patrick Sexton sold 68,579 shares of the stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $3.31, for a total value of $226,996.49. Following the completion of the transaction, the chief technology officer now owns 364,499 shares of the company’s stock, valued at $1,206,491.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in shares of Hyliion by 550.3% in the first quarter. Renaissance Technologies LLC now owns 2,932,200 shares of the company’s stock worth $12,990,000 after acquiring an additional 2,481,276 shares during the last quarter. Northern Trust Corp raised its holdings in Hyliion by 1.2% in the 4th quarter. Northern Trust Corp now owns 1,072,058 shares of the company’s stock valued at $6,647,000 after buying an additional 12,621 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Hyliion by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 828,619 shares of the company’s stock valued at $3,671,000 after buying an additional 20,236 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hyliion by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 407,305 shares of the company’s stock valued at $1,804,000 after buying an additional 4,464 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Hyliion by 76.1% in the 1st quarter. Bank of America Corp DE now owns 305,181 shares of the company’s stock valued at $1,352,000 after buying an additional 131,900 shares during the last quarter. 27.18% of the stock is owned by hedge funds and other institutional investors.

About Hyliion (Get Rating)

Hyliion Holdings Corp. designs, develops, and sells electrified powertrain solutions for the commercial vehicle industry. It also provides battery management systems for hybrid and fully electric vehicle applications; and battery packs. The company was founded in 2015 and is headquartered in Cedar Park, Texas.

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