Hyliion (NYSEAMERICAN:HYLN) Stock Price Up 11.6% – Still a Buy?

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN) shares rose 11.6% during trading on Thursday . The stock traded as high as $7.07 and last traded at $7.21. Approximately 1,387,984 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 1,932,181 shares. The stock had previously closed at $6.46.

Hyliion Trading Up 16.7%

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -25.22 and a beta of 3.43. The firm has a 50-day moving average of $3.08 and a 200 day moving average of $2.36.

Institutional Trading of Hyliion

Several large investors have recently added to or reduced their stakes in HYLN. Invesco Ltd. increased its position in Hyliion by 76.3% in the 4th quarter. Invesco Ltd. now owns 6,253,598 shares of the company’s stock valued at $11,507,000 after acquiring an additional 2,706,803 shares during the period. HITE Hedge Asset Management LLC increased its position in Hyliion by 121.9% in the 4th quarter. HITE Hedge Asset Management LLC now owns 2,827,742 shares of the company’s stock valued at $5,203,000 after acquiring an additional 1,553,626 shares during the period. Millennium Management LLC increased its position in Hyliion by 27.4% in the 1st quarter. Millennium Management LLC now owns 6,295,760 shares of the company’s stock valued at $8,814,000 after acquiring an additional 1,355,951 shares during the period. J. Derek Lewis & Associates Inc. acquired a new stake in Hyliion in the 4th quarter valued at approximately $1,586,000. Finally, Marshall Wace LLP acquired a new stake in Hyliion in the 2nd quarter valued at approximately $386,000. 22.81% of the stock is currently owned by institutional investors and hedge funds.

About Hyliion

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.