Insider Buying: Card Andrew H JR, Hyliion Holdings Corp. [HYLN] Director invested 10,000 shares

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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hyliion Holdings Corp. shares valued at $31,800 were purchased by Card Andrew H JR on Nov 18. At $3.18 per share, Card Andrew H JR acquired 10,000 shares. The insider’s holdings grew to 56,435 shares worth approximately $0.17 million following the completion of this transaction.

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Also, Oxholm Jose Miguel purchased 1,000 shares, netting a total of over 2,990 in proceeds. Following the buying of shares at $2.99 each, the insider now holds 213,104 shares.

Before that, GALLAGHER DENNIS M. had added 20,000 shares to its account. In a trade valued at $62,000, the Chief Operating Officer bought Hyliion Holdings Corp. shares for $3.10 each. Upon closing the transaction, the insider’s holdings increased to 20,000 shares, worth approximately $0.83 million.

As published in their initiating research note from Northland Capital on November 22, 2022, Hyliion Holdings Corp. [HYLN] has been an Outperform and the price target has been revised to $4. This represents a 26.25% premium over Thursday’s closing price. Analysts at Cantor Fitzgerald downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of June 21, 2022, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for HYLN. Earlier on March 02, 2022, UBS upgraded its rating. Their new recommendation was “a Neutral” for HYLN stock which previously was a “a Sell”.

Analyzing HYLN Stock Performance

On Thursday, Hyliion Holdings Corp. [NYSE: HYLN] plunged -7.23% to $2.95. The stock’s lowest price that day was $2.91, but it reached a high of $3.13 in the same session. During the last five days, there has been a surge of approximately 8.06%. Over the course of the year, Hyliion Holdings Corp. shares have jumped approximately 26.07%. Shares of the company reached a 52-week high of $3.37 on 01/18/23 and a 52-week low of $2.06 on 01/06/23. A 50-day SMA is recorded $2.73, while a 200-day SMA reached $3.25. Nevertheless, trading volume fell to 1.13 million shares from 0.89 million shares the previous day.

Support And Resistance Levels for Hyliion Holdings Corp. (HYLN)

According to the 24-hour chart, there is a support level at 2.86, which, if violated, would cause prices to drop to 2.78. In the upper region, resistance lies at 3.08. The next price resistance is at 3.22. RSI (Relative Strength Index) is 59.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.48, which suggests the price will decrease in the coming days. Percent R is at 32.06%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Hyliion Holdings Corp. subject to short interest?

Stocks of Hyliion Holdings Corp. saw a sharp steep in short interest on Oct 13, 2022 dropping by -1.3 million shares to 13.89 million. Data from Yahoo Finance shows that the short interest on Sep 14, 2022 was 15.19 million shares. A decline of -9.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.99 of the overall float, the days-to-cover ratio (short ratio) decline to 9.99.

Which companies own the most shares of Hyliion Holdings Corp. (HYLN)?

According to The Vanguard Group, Inc. filings, the company currently owns 10,958,838 shares, which is about 6.10% of the total HYLN shares outstanding. The investor’s shares have appreciated by 113,592 from its previous 13-F filing of 10845246.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $19,470,621. SSgA Funds Management, Inc. acquire a 2.30% interest valued at $7.01 million while Geode Capital Management LLC purchased a 179,505 stake. A total of 256,253 shares of Hyliion Holdings Corp. were bought by Renaissance Technologies LLC during the quarter, and -278,117 were sold by D. E. Shaw & Co. LP. In its current portfolio, Handelsbanken Fonder AB holds 1,455,185 shares valued at $3.41 million.

In terms of Hyliion Holdings Corp. share price expectations, FactSet research, analysts set an average price target of $3.44 in the next 12 months, up nearly 17.92% from the previous closing price of $3.18. Analysts anticipate Hyliion Holdings Corp. stock to reach $4.00 by 2023, with the lowest price target being $2.25. In spite of this, 5 analysts ranked Hyliion Holdings Corp. stock as a Hold at the end of 2023. On November 11, 2021, Cantor Fitzgerald assigned a price target of “an Overweight” to the stock and resumed coverage with a $12.

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