In the last trading session, 2.0 million Hyliion Holdings Corporation (NYSE:HYLN) shares changed hands as the company’s beta touched 1.54. With the company’s per share price at $0.59 changed hands at -$0.05 or -8.43% during last session, the market valuation stood at $107.26M. HYLN’s last price was a discount, traded about -557.63% off its 52-week high of $3.88. The share price had its 52-week low at $0.52, which suggests the last value was 11.86% up since then. When we look at Hyliion Holdings Corporation’s average trading volume, we note the 10-day average is 1.36 million shares, with the 3-month average coming to 1.99 million.
Analysts gave the Hyliion Holdings Corporation (HYLN) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 4.00. If we narrow down to specifics, the data shows that 2 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended HYLN as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Hyliion Holdings Corporation’s EPS for the current quarter is expected to be -$0.19.
Hyliion Holdings Corporation (NYSE:HYLN) trade information
Instantly HYLN was in red as seen at the end of in last trading. With action 6.79%, the performance over the past five days has been green. The drop to weekly highs of 0.6730 on Friday, 11/17/23 subtracted -8.43% to the stock’s daily price. The company’s shares are showing year-to-date downside of -74.92%, with the 5-day performance at 6.79% in the green. However, in the 30-day time frame, Hyliion Holdings Corporation (NYSE:HYLN) is -8.33% down. Looking at the short shares, we see there were 9.29 million shares sold at short interest cover period of 2.71 days.
The consensus price target for the stock as assigned by Wall Street analysts is $1.07, meaning bulls need an upside of 44.86% from its current market value. According to analyst projections, HYLN’s forecast low is $0.70 with $1.50 as the target high. To hit the forecast high, the stock’s price needs a -154.24% plunge from its current level, while the stock would need to soar -18.64% for it to hit the projected low.
Hyliion Holdings Corporation (HYLN) estimates and forecasts
Data shows that the Hyliion Holdings Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -64.65% over the past 6 months, a 20.69% in annual growth rate that is considerably higher than the industry average of 20.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Hyliion Holdings Corporation will fall -18.80%, while the growth in revenue is estimated to hit -18.80% for the next quarter. Year-over-year growth is forecast to reach 279.90% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $6.93 million. 1 analysts are of the opinion that Hyliion Holdings Corporation’s revenue for the quarter ending Mar 2024 will be $5.3 million. The company’s revenue for the corresponding quarters a year ago was $1.09 million and $690k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 532.90%. The estimates for the next quarter sales put growth at 668.10%.
The 2023 estimates are for Hyliion Holdings Corporation earnings to increase by 19.66%.
Hyliion Holdings Corporation is expected to release its next quarterly earnings report on November 09.
Hyliion Holdings Corporation (NYSE:HYLN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 31.54% of Hyliion Holdings Corporation shares while 31.88% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 46.56%. There are 31.88% institutions holding the Hyliion Holdings Corporation stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 5.37% of the shares, roughly 9.73 million HYLN shares worth $16.26 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.99% or 9.05 million shares worth $15.11 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 3.72 million shares estimated at $6.21 million under it, the former controlled 2.05% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.88% of the shares, roughly 3.4 million shares worth around $4.15 million.