Northland Securities Raises Hyliion (NYSE:HYLN) Price Target to $2.00

Hyliion (NYSE:HYLN) had its price objective hoisted by Northland Securities from $1.50 to $2.00 in a report published on Tuesday, Benzinga reports. They currently have a market perform rating on the stock.

Hyliion Stock Performance

Hyliion stock opened at $1.99 on Tuesday. Hyliion has a fifty-two week low of $0.52 and a fifty-two week high of $2.61. The stock has a market cap of $345.46 million, a PE ratio of -3.25 and a beta of 1.89. The firm’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $1.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Hyliion by 20.7% during the second 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. Millennium Management LLC boosted its holdings in Hyliion by 64.8% during the second quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock worth $7,672,000 after purchasing an additional 1,861,497 shares during the last quarter. AQR Capital Management LLC purchased a new position in Hyliion during the second quarter worth about $40,000. HITE Hedge Asset Management LLC purchased a new position in Hyliion in the second quarter valued at about $656,000. Finally, Bank of New York Mellon Corp boosted its stake in Hyliion by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock valued at $931,000 after acquiring an additional 51,794 shares during the last quarter. 22.81% of the stock is currently owned by hedge funds and other institutional investors.

Hyliion Company Profile