Hyliion (NYSEAMERICAN:HYLN) Issues Earnings Results

Hyliion (NYSEAMERICAN:HYLN) issued its quarterly earnings data on Tuesday. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02, FiscalAI reports. The business had revenue of $7.45 million during the quarter, compared to analysts’ expectations of $4.17 million. Hyliion had a negative return on equity of 27.94% and a negative net margin of 564.34%.

Hyliion Stock Performance

NYSEAMERICAN:HYLN traded down $0.15 during mid-day trading on Tuesday, reaching $2.99. The stock had a trading volume of 1,623,843 shares, compared to its average volume of 2,477,650. The business has a 50 day simple moving average of $3.65 and a 200 day simple moving average of $3.47. Hyliion has a twelve month low of $1.56 and a twelve month high of $8.49. The firm has a market capitalization of $534.01 million, a price-to-earnings ratio of -9.97 and a beta of 3.74.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HYLN. Craig Hallum initiated coverage on Hyliion in a report on Tuesday, September 29th. They issued a “buy” rating and a $7.00 price target for the company. Northland Securities raised shares of Hyliion from a “market perform” rating to an “outperform” rating and set a $10.00 price objective on the stock in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.67.

Insider Transactions at Hyliion

In related news, Director Vincent Cubbage purchased 50,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were acquired at an average cost of $3.40 per share, with a total value of $170,000.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 21.40% of the company’s stock.

About Hyliion

Hyliion Holdings Corp. develops sustainable power-generation technologies designed to reduce emissions and improve efficiency across commercial and industrial applications. The company is focused on its KARNO generator, an additive-manufactured, fuel-agnostic generator platform that can operate on a range of fuels, including hydrogen and renewable fuels. The KARNO technology is intended for use in distributed power-generation systems, including stationary and mobile applications. Hyliion has positioned the platform for potential use in data centers, microgrids, commercial facilities, and other settings that require reliable electricity with lower emissions than conventional generators.