Hyliion (NYSEAMERICAN:HYLN) Shares Down 7.6% – Here’s Why

Hyliion Holdings Corp. (NYSEAMERICAN:HYLN)’s share price traded down 7.6% during trading on Monday . The company traded as low as $6.61 and last traded at $6.4590. 829,252 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 1,809,399 shares. The stock had previously closed at $6.99.

Hyliion Price Performance

The firm has a market capitalization of $1.13 billion, a P/E ratio of -21.62 and a beta of 3.41. The stock’s fifty day simple moving average is $2.80 and its 200 day simple moving average is $2.26.

Hedge Funds Weigh In On Hyliion

Large investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in Hyliion by 28.3% in the first 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. Renaissance Technologies LLC raised its holdings in Hyliion by 48.8% in the first quarter. Renaissance Technologies LLC now owns 318,600 shares of the company’s stock worth $561,000 after purchasing an additional 104,500 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Hyliion by 34.1% in the first quarter. Dimensional Fund Advisors LP now owns 799,672 shares of the company’s stock worth $1,406,000 after purchasing an additional 203,451 shares in the last quarter. Hsbc Holdings PLC bought a new position in Hyliion in the first quarter worth about $27,000. Finally, Angeles Wealth Management LLC bought a new position in Hyliion in the first quarter worth about $44,000. 22.81% of the stock is currently owned by institutional investors.

Hyliion Company Profile

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.