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Is Hyliion Holdings Corp. (NYSE: HYLN) Still A Buy After A -3.01% Weekly Drop?

During the recent session, Hyliion Holdings Corp. (NYSE:HYLN)’s traded shares were 0.56 million, with the beta value of the company hitting 1.39. The 52-week high for the HYLN share is $4.70, that puts it down -191.93 from that peak though still a striking 24.22% gain since the share price plummeted to a 52-week low of $1.22. The company’s market capitalization is $298.14M, and the average intraday trading volume over the past 10 days was 1.27 million shares, and the average trade volume was 1.62 million shares over the past three months.

Hyliion Holdings Corp. (HYLN) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.20. HYLN has a Sell rating from 2 analyst(s) out of 5 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.18.

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Hyliion Holdings Corp. (NYSE:HYLN) trade information

The stock’s 5-day price performance is -3.01%, and it has moved by 21.05% in 30 days. Based on these gigs, the overall price performance for the year is -47.56%. The short interest in Hyliion Holdings Corp. (NYSE:HYLN) is 14.12 million shares and it means that shorts have 8.12 day(s) to cover.

The consensus price target of analysts on Wall Street is $3.00, which implies an increase of 46.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.75 and $4.00 respectively. As a result, HYLN is trading at a discount of -148.45% off the target high and -8.7% off the low.

Hyliion Holdings Corp. (HYLN) estimates and forecasts

Statistics show that Hyliion Holdings Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Hyliion Holdings Corp. (HYLN) shares have gone down -46.15% during the last six months, with a year-to-date growth rate more than the industry average at 16.09% against 15.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 5.30% this quarter and then jump 50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 503.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $630k as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $1.07 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $172k and $660k respectively. In this case, analysts expect current quarter sales to grow by 266.30% and then jump by 62.10% in the coming quarter.

While earnings are projected to return -56.80% in 2023.

HYLN Dividends

Hyliion Holdings Corp. is due to release its next quarterly earnings between August 07 and August 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Hyliion Holdings Corp. (NYSE:HYLN)’s Major holders

Hyliion Holdings Corp. insiders own 31.67% of total outstanding shares while institutional holders control 31.79%, with the float percentage being 46.52%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 182 institutions own stock in it. As of Mar 30, 2023, the company held over 12.13 million shares (or 6.71% of all shares), a total value of $19.43 million in shares.

The next largest institutional holding, with 9.69 million shares, is of Blackrock Inc.’s that is approximately 5.36% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $15.51 million.

Also, the Mutual Funds coming in first place with the largest holdings of Hyliion Holdings Corp. (HYLN) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 3.72 million shares. This amounts to just over 2.06 percent of the company’s overall shares, with a $5.96 million market value. The same data shows that the other fund manager holds slightly less at 3.47 million, or about 1.92% of the stock, which is worth about $5.56 million.

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