Hyliion (NYSEAMERICAN:HYLN) Trading 9.6% Higher – Should You Buy?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN )'s share price traded up 9.6% on Tuesday . The company traded as high as $4.04 and last traded at $4.0440. Approximately 972,505 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 2,676,540 shares. The stock had previously closed at $3.69. A number of equities research analysts have commented on HYLN shares. Northland Securities upgraded Hyliion from a 'market perform' rating to an 'outperform' rating and set a $10.00 price target for the company in a research note on Thursday, August 13th. Needham & Company LLC initiated coverage on shares of Hyliion in a report on Wednesday, June 10th. They set a 'buy' rating and a $9.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of 'Buy' and a consensus price target of $8.00. View Our Latest Report on HYLN Hyliion (NYSEAMERICAN:HYLN ) last issued its earnings results on Tuesday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%.The company had revenue of $4.94 million during the quarter, compared to analyst estimates of $2.40 million. As a group, analysts expect that Hyliion Holdings Corp. will post -0.31 earnings per share for the current year. In other news, Director Vincent Cubbage acquired 50,000 shares of Hyliion stock in a transaction dated Thursday, August 27th. The stock was purchased at an average cost of $3.40 per share, for a total transaction of $170,000.00. Following the completion of the purchase, the director directly owned 1,131,363 shares in the company, valued at $3,846,634.20. This trade represents a 4.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 21.40% of the stock is currently owned by insiders. Hedge funds and other institutional investors have recently bought and sold shares of the business. J. Derek Lewis & Associates Inc. purchased a new position in shares of Hyliion during the 4th quarter valued at about $1,586,000. HITE Hedge Asset Management LLC grew its holdings in Hyliion by 121.9% during the fourth quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company's stock worth $5,203,000 after acquiring an additional 1,553,626 shares during the period. Dimensional Fund Advisors LP grew its holdings in Hyliion by 34.1% during the first quarter. Dimensional Fund Advisors LP now owns 799,672 shares of the company's stock worth $1,406,000 after acquiring an additional 203,451 shares during the period. Headlands Technologies LLC acquired a new position in Hyliion in the second quarter valued at approximately $319,000. Finally, Cetera Investment Advisers boosted its position in Hyliion by 28.3% in the 1st quarter. Cetera Investment Advisers now owns 94,957 shares of the company's stock worth $167,000 after purchasing an additional 20,956 shares in the last quarter. Institutional investors and hedge funds own 22.81% of the company's stock. Hyliion Holdings Corp. develops electrified powertrain solutions aimed at reducing fuel consumption and emissions for Class 8 commercial vehicles. Its flagship offerings include the Hypertruck ERX electric axle and hybrid powertrain systems that integrate battery packs with onboard natural gas generators. These modular solutions are designed to retrofit existing diesel trucks or to be incorporated by original equipment manufacturers, allowing fleets to transition toward lower-carbon operations without replacing entire fleets. Founded in 2015 by Thomas Healy and based in Austin, Texas, Hyliion went public in 2020 via a special purpose acquisition company (SPAC) merger.