FY2024 EPS Estimates for Hyliion Lifted by Northland Capmk

Hyliion Holdings Corp. (NYSE:HYLN) – Equities research analysts at Northland Capmk increased their FY2024 earnings per share estimates for shares of Hyliion in a research report issued to clients and investors on Tuesday, November 19th. Northland Capmk analyst E. Jackson now forecasts that the company will earn ($0.28) per share for the year, up from their prior estimate of ($0.29). Northland Capmk has a “Hold” rating on the stock. The consensus estimate for Hyliion’s current full-year earnings is ($0.29) per share.

Separately, Northland Securities raised their price objective on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th.

Hyliion Trading Up 26.6 %

HYLN stock opened at $3.68 on Thursday. The stock has a 50-day moving average price of $2.49 and a two-hundred day moving average price of $2.02. The stock has a market cap of $639.59 million, a PE ratio of -9.96 and a beta of 1.91. Hyliion has a 1 year low of $0.55 and a 1 year high of $3.80.

Hedge Funds Weigh In On Hyliion

Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings in Hyliion by 272.1% in the third quarter. Barclays PLC now owns 184,685 shares of the company’s stock valued at $459,000 after buying an additional 135,055 shares during the period. XTX Topco Ltd acquired a new position in Hyliion in the third quarter valued at $60,000. Jane Street Group LLC raised its holdings in shares of Hyliion by 79.3% during the third quarter. Jane Street Group LLC now owns 265,302 shares of the company’s stock valued at $658,000 after purchasing an additional 117,358 shares during the period. State Street Corp raised its holdings in shares of Hyliion by 0.6% during the third quarter. State Street Corp now owns 2,985,109 shares of the company’s stock valued at $7,403,000 after purchasing an additional 16,707 shares during the period. Finally, HITE Hedge Asset Management LLC raised its holdings in shares of Hyliion by 130.6% during the third quarter. HITE Hedge Asset Management LLC now owns 933,659 shares of the company’s stock valued at $2,315,000 after purchasing an additional 528,750 shares during the period. Institutional investors and hedge funds own 22.81% of the company’s stock.

Insiders Place Their Bets

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

About Hyliion