Hyliion Holdings Corp. (NYSE: HYLN) stock jumped 10.08% on Monday to $1.31 against a previous-day closing price of $1.19. With 4.59 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.42 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $1.4600 whereas the lowest price it dropped to was $1.2361. The 52-week range on HYLN shows that it touched its highest point at $3.88 and its lowest point at $1.15 during that stretch. It currently has a 1-year price target of $2.01. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HYLN was up-trending over the past week, with a rise of 3.15%, but this was up by 9.17% over a month. Three-month performance dropped to -28.80% while six-month performance fell -40.72%. The stock lost -58.28% in the past year, while it has lost -44.02% so far this year. A look at the trailing 12-month EPS for HYLN yields -0.88 with Next year EPS estimates of -0.81. For the next quarter, that number is -0.18. This implies an EPS growth rate of -56.80% for this year and -12.50% for next year.
Float and Shares Shorts:
At present, 180.97 million HYLN shares are outstanding with a float of 124.19 million shares on hand for trading. On Aug 30, 2023, short shares totaled 10.49 million, which was 5.79% higher than short shares on Jul 30, 2023. In addition to Mr. Thomas J. Healy as the firm’s Founder, Pres, CEO & Director, Mr. Jon T. Panzer serves as its Chief Financial Officer.
Through their ownership of 31.88% of HYLN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 34.45% of HYLN, in contrast to 13.01% held by mutual funds. Shares owned by individuals account for 10.92%. As the largest shareholder in HYLN with 4.93% of the stake, The Vanguard Group, Inc. holds 8,927,484 shares worth 8,927,484. A second-largest stockholder of HYLN, BlackRock Fund Advisors, holds 8,782,365 shares, controlling over 4.85% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in HYLN, holding 3,164,107 shares or 1.75% stake. With a 2.05% stake in HYLN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,720,847 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.84% of HYLN stock, is the second-largest Mutual Fund holder. It holds 3,341,392 shares valued at 4.08 million. Vanguard Extended Market Index Fu holds 0.99% of the stake in HYLN, owning 1,800,424 shares worth 2.2 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, HYLN reported revenue of $172.00k and operating income of -$34.20M. The EBITDA in the recently reported quarter was -$33.78M and diluted EPS was -$0.19.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HYLN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HYLN analysts setting a high price target of $2.80 and a low target of $1.25, the average target price over the next 12 months is $2.01. Based on these targets, HYLN could surge 113.74% to reach the target high and fall by -4.58% to reach the target low. Reaching the average price target will result in a growth of 53.44% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded HYLN stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 201,168 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 1,345,711 while 283,935 shares were sold.