Hyliion Holdings Corp. (NYSE:HYLN) Shares Acquired by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lifted its holdings in shares of Hyliion Holdings Corp. (NYSE:HYLN) by 130.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 933,659 shares of the company’s stock after buying an additional 528,750 shares during the period. HITE Hedge Asset Management LLC’s holdings in Hyliion were worth $2,315,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Creative Planning purchased a new stake in shares of Hyliion during the third quarter worth approximately $29,000. AQR Capital Management LLC purchased a new position in shares of Hyliion during the 2nd quarter worth $40,000. Intech Investment Management LLC acquired a new stake in shares of Hyliion during the 3rd quarter worth about $77,000. Verition Fund Management LLC increased its position in shares of Hyliion by 52.9% during the 3rd quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock worth $84,000 after purchasing an additional 11,653 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Hyliion by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company’s stock worth $94,000 after purchasing an additional 9,948 shares during the last quarter. 22.81% of the stock is owned by institutional investors and hedge funds.

Hyliion Stock Down 9.2 %

HYLN opened at $3.35 on Tuesday. The firm has a market cap of $582.00 million, a price-to-earnings ratio of -9.05 and a beta of 2.03. Hyliion Holdings Corp. has a 52 week low of $0.58 and a 52 week high of $4.09. The business’s 50 day moving average is $2.69 and its two-hundred day moving average is $2.12.

Insiders Place Their Bets

In related news, Director Vincent T. Cubbage sold 65,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $3.90, for a total transaction of $253,500.00. Following the transaction, the director now owns 972,078 shares of the company’s stock, valued at $3,791,104.20. This represents a 6.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Govindaraj Ramasamy bought 30,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $1.92 per share, for a total transaction of $57,600.00. Following the completion of the transaction, the insider now owns 298,000 shares of the company’s stock, valued at $572,160. This represents a 11.19 % increase in their position. The disclosure for this purchase can be found here. 20.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on HYLN. Northland Securities lifted their target price on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Northland Capmk upgraded Hyliion to a “hold” rating in a research note on Tuesday, October 1st.

Hyliion Company Profile