Hyzon Motors (NASDAQ:HYZN) Shares Gap Up – Here’s Why

Hyzon Motors Inc. (NASDAQ:HYZN) gapped up before the market opened on Tuesday . The stock had previously closed at $1.99, but opened at $2.03. Hyzon Motors shares last traded at $2.07, with a volume of 18,280 shares.

Hyzon Motors Stock Performance

The firm has a market cap of $502.22 million, a price-to-earnings ratio of -2.64 and a beta of 2.85. The firm has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $15.73.

Hyzon Motors (NASDAQ:HYZN) last posted its earnings results on Tuesday, August 13th. The company reported ($10.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($7.50) by ($3.00). The firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $1.00 million. During the same period in the previous year, the company posted ($12.50) EPS.

Insider Transactions at Hyzon Motors

In other news, major shareholder Fuel Cell Technologies Horizon sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.50, for a total transaction of $35,000.00. Following the transaction, the insider now owns 709,565 shares in the company, valued at approximately $2,483,477.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 234,455 shares of company stock worth $948,098 over the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Hyzon Motors

A hedge fund recently raised its stake in Hyzon Motors stock. Van ECK Associates Corp increased its holdings in Hyzon Motors Inc. (NASDAQ:HYZN) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,022,830 shares of the company’s stock after buying an additional 111,431 shares during the period. Van ECK Associates Corp owned 0.41% of Hyzon Motors worth $328,000 as of its most recent filing with the Securities and Exchange Commission. 61.41% of the stock is owned by hedge funds and other institutional investors.

About Hyzon Motors

Hyzon Motors Inc supplies hydrogen fuel cell systems for decarbonization applications in various industries. The company commercializes its proprietary fuel cell technology through assembling and upfitting heavy duty (HD) hydrogen fuel cell electric vehicles (FCEVs). It also focuses primarily on assembling and converting hydrogen-powered FCEVs; and building and fostering a clean hydrogen supply ecosystem with partners and third parties from feedstock through hydrogen production, dispensing, and financing.