Is Hyzon Motors Inc (NASDAQ: HYZN) Stock Poised for More Growth?

In the last trading session, 2.2 million Hyzon Motors Inc (NASDAQ:HYZN) shares changed hands as the company’s beta touched 3.19. With the company’s per share price at $1.25 changed hands at $0.31 or 32.56% during last session, the market valuation stood at $306.25M. HYZN’s last price was a discount, traded about -88.0% off its 52-week high of $2.35. The share price had its 52-week low at $0.45, which suggests the last value was 64.0% up since then. When we look at Hyzon Motors Inc’s average trading volume, we note the 10-day average is 1.1 million shares, with the 3-month average coming to 533.16K.

Analysts gave the Hyzon Motors Inc (HYZN) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 4.00. If we narrow down to specifics, the data shows that 1 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended HYZN as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Hyzon Motors Inc’s EPS for the current quarter is expected to be -$0.18.

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Hyzon Motors Inc (NASDAQ:HYZN) trade information

Instantly HYZN was in green as seen at the end of in last trading. With action 67.74%, the performance over the past five days has been green. The jump to weekly highs of 1.2500 on Friday, 11/17/23 added 32.56% to the stock’s daily price. The company’s shares are showing year-to-date downside of -19.35%, with the 5-day performance at 67.74% in the green. However, in the 30-day time frame, Hyzon Motors Inc (NASDAQ:HYZN) is 32.94% up. Looking at the short shares, we see there were 9.96 million shares sold at short interest cover period of 22.12 days.

The consensus price target for the stock as assigned by Wall Street analysts is $1.00, meaning bulls need a downside of -25.0% from its current market value. According to analyst projections, HYZN’s forecast low is $1.00 with $1.00 as the target high. To hit the forecast high, the stock’s price needs a 20.0% surge from its current level, while the stock would need to tank 20.0% for it to hit the projected low.

Hyzon Motors Inc (HYZN) estimates and forecasts

Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Hyzon Motors Inc will fall -38.50%, while the growth in revenue is estimated to hit -54.50% for the next quarter.

1 analysts are of the opinion that Hyzon Motors Inc’s revenue for the quarter ending Mar 2024 will be $3 million.

The 2023 estimates are for Hyzon Motors Inc earnings to decrease by -125.47%.

HYZN Dividends

Hyzon Motors Inc is expected to release its next quarterly earnings report on November 14.

Hyzon Motors Inc (NASDAQ:HYZN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 63.11% of Hyzon Motors Inc shares while 24.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.37%. There are 24.85% institutions holding the Hyzon Motors Inc stock share, with Long Focus Capital Management, LLC the top institutional holder. As of Jun 29, 2023, the company held 5.68% of the shares, roughly 13.91 million HYZN shares worth $13.33 million.

Norges Bank Investment Management holds the second largest percentage of outstanding shares, with 2.65% or 6.5 million shares worth $10.07 million as of Dec 30, 2022.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 2.23 million shares estimated at $2.14 million under it, the former controlled 0.91% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.50% of the shares, roughly 1.22 million shares worth around $1.17 million.

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