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 Corporation shares valued at $57,000 were purchased by KNIGHT ROBERT M JR on Nov 21 ’23. At $0.57 per share, KNIGHT ROBERT M JR acquired 100,000 shares. The insider’s holdings grew to 176,435 shares worth approximately $0.26 million following the completion of this transaction.
Also, LANTZ CHERI purchased 20,000 shares, netting a total of over 13,200 in proceeds. Following the buying of shares at $0.66 each, the insider now holds 281,373 shares.
Before that, Healy Thomas J. had added 139,798 shares to its account. In a trade valued at $89,471, the Chief Executive Officer bought Hyliion Holdings Corporation shares for $0.64 each. Upon closing the transaction, the insider’s holdings increased to 139,798 shares, worth approximately $50.13 million.
As published in a research note from Northland Capital on October 12, 2023, Hyliion Holdings Corporation [HYLN] has been rated down from an Outperform to a Market perform and the price target has been revised to $1.50 from $2.80. Analysts at Northland Capital started covering the stock with ‘”an Outperform”‘ outlook in a report released in late November. As of August 11, 2022, Cantor Fitzgerald has decreased its “an Overweight” rating to a “Neutral” for HYLN. Earlier on June 21, 2022, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for HYLN stock which previously was a “a Neutral”.
Analyzing HYLN Stock Performance
During the last five days, there has been a drop of approximately -11.76%. Over the course of the year, Hyliion Holdings Corporation shares have jumped approximately 84.34%. Shares of the company reached a 52-week high of $1.9600 on 03/08/24 and a 52-week low of $0.8000 on 01/05/24. A 50-day SMA is recorded $1.4936, while a 200-day SMA reached $1.2027. Nevertheless, trading volume fell to 1.08 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for Hyliion Holdings Corporation (HYLN)
According to the 24-hour chart, there is a support level at 1.4078, which, if violated, would cause prices to drop to 1.3157. In the upper region, resistance lies at 1.5543. The next price resistance is at 1.6087. RSI (Relative Strength Index) is 46.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1148, which suggests the price will decrease in the coming days. Percent R is at 75.47%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Hyliion Holdings Corporation subject to short interest?
Stocks of Hyliion Holdings Corporation saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.55 million shares to 8.04 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.59 million shares. A decline of -6.84% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.07 of the overall float, the days-to-cover ratio (short ratio) decline to 6.07.
