Hyliion (NYSE:HYLN) Shares Gap Up on Insider Buying Activity

Posted by Maddie Sorensen on Nov 21st, 2024

Hyliion Holdings Corp. (NYSE:HYLN – Get Free Report)’s share price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $2.91, but opened at $3.11. Hyliion shares last traded at $3.17, with a volume of 402,038 shares changing hands.

Specifically, Director Jeffrey A. Craig purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $2.95 per share, with a total value of $147,500.00. Following the completion of the acquisition, the director now directly owns 282,060 shares in the company, valued at $832,077. This represents a 21.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HYLN. Northland Capmk raised Hyliion to a “hold” rating in a report on Tuesday, October 1st. Northland Securities increased their price target on shares of Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th.

Read Our Latest Report on HYLN

Hyliion Trading Up 8.6 %

The firm has a market capitalization of $548.51 million, a PE ratio of -8.54 and a beta of 1.91. The firm has a 50-day moving average of $2.46 and a two-hundred day moving average of $2.00.

Institutional Investors Weigh In On Hyliion

Several hedge funds and other institutional investors have recently modified their holdings of HYLN. Creative Planning bought a new stake in shares of Hyliion in the 3rd quarter valued at approximately $29,000. AQR Capital Management LLC acquired a new position in Hyliion in the second quarter worth $40,000. XTX Topco Ltd bought a new stake in Hyliion during the third quarter valued at $60,000. Intech Investment Management LLC acquired a new stake in shares of Hyliion during the third quarter worth $77,000. Finally, Verition Fund Management LLC lifted its position in shares of Hyliion by 52.9% in the 3rd quarter. Verition Fund Management LLC now owns 33,700 shares of the company’s stock worth $84,000 after buying an additional 11,653 shares during the last quarter. Institutional investors own 22.81% of the company’s stock.