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

Hyliion Holdings Corp. (NYSE:HYLN)’s share price gapped up prior to trading 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.

Specifically, Director Jeffrey A. Craig acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $2.95 per share, for a total transaction of $147,500.00. Following the completion of the purchase, the director now directly owns 282,060 shares of the company’s stock, valued at $832,077. The trade was a 21.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

HYLN has been the subject of a number of analyst reports. Northland Securities boosted their price target on Hyliion from $1.50 to $2.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Northland Capmk raised shares of Hyliion to a “hold” rating in a research note on Tuesday, October 1st.

Hyliion Stock Performance

The business’s 50 day moving average is $2.46 and its 200-day moving average is $2.00. The stock has a market cap of $548.51 million, a price-to-earnings ratio of -8.54 and a beta of 1.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HYLN. Creative Planning purchased a new stake in shares of Hyliion during the 3rd quarter valued at approximately $29,000. AQR Capital Management LLC purchased a new stake in Hyliion during the second quarter worth about $40,000. XTX Topco Ltd acquired a new position in shares of Hyliion in the third quarter worth $60,000. Intech Investment Management LLC acquired a new stake in Hyliion in the 3rd quarter valued at about $77,000. Finally, Verition Fund Management LLC raised its holdings 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 valued at $84,000 after purchasing an additional 11,653 shares in the last quarter. Hedge funds and other institutional investors own 22.81% of the company’s stock.

Hyliion Company Profile