Hyliion (NYSE:HYLN) Shares Gap Down – Here’s What Happened

Hyliion Holdings Corp. (NYSE:HYLN) shares gapped down prior to trading on Monday . The stock had previously closed at $3.69, but opened at $3.61. Hyliion shares last traded at $3.61, with a volume of 153,585 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on HYLN shares. Northland Securities lifted their target price on shares of Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Northland Capmk raised Hyliion to a “hold” rating in a research report on Tuesday, October 1st.

Hyliion Stock Down 2.2 %

The firm has a 50-day moving average price of $2.73 and a two-hundred day moving average price of $2.14. The company has a market capitalization of $568.97 million, a P/E ratio of -8.85 and a beta of 2.03.

Insider Buying and Selling at Hyliion

In other news, insider Govindaraj Ramasamy purchased 30,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average price of $1.92 per share, with a total value of $57,600.00. Following the acquisition, the insider now directly owns 298,000 shares in the company, valued at approximately $572,160. The trade was a 11.19 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vincent T. Cubbage sold 65,000 shares of Hyliion stock in a transaction that occurred 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 sale, the director now directly owns 972,078 shares in the company, valued at $3,791,104.20. The trade was a 6.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.40% of the company’s stock.

Hedge Funds Weigh In On Hyliion

A number of hedge funds and other institutional investors have recently made changes to their positions in HYLN. HITE Hedge Asset Management LLC acquired a new position in Hyliion in the second quarter worth about $656,000. Millennium Management LLC boosted its stake in Hyliion by 64.8% in the 2nd 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. Bank of New York Mellon Corp grew its position in Hyliion by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock valued at $931,000 after acquiring an additional 51,794 shares during the period. AQR Capital Management LLC acquired a new position in Hyliion during the second quarter worth $40,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Hyliion by 11.7% during the first quarter. Vanguard Group Inc. now owns 7,291,480 shares of the company’s stock valued at $12,833,000 after acquiring an additional 762,909 shares during the period. 22.81% of the stock is owned by institutional investors.

About Hyliion