Hyzon Motors (NASDAQ:HYZN) Trading 2.7% Higher

Shares of Hyzon Motors Inc. (NASDAQ:HYZN) shot up 2.7% during mid-day trading on Thursday . The stock traded as high as $0.38 and last traded at $0.37. 487,668 shares were traded during trading, an increase of 1% from the average session volume of 485,055 shares. The stock had previously closed at $0.36.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HYZN. Roth Mkm reissued a “buy” rating and set a $1.60 price target on shares of Hyzon Motors in a research report on Monday, March 25th. Roth Capital reaffirmed a “buy” rating on shares of Hyzon Motors in a research report on Wednesday, March 6th.

Hyzon Motors Stock Up 2.7 %

The company has a market cap of $91.75 million, a P/E ratio of -0.48 and a beta of 3.06. The company has a 50 day moving average price of $0.51 and a 200-day moving average price of $0.65.

Hyzon Motors (NASDAQ:HYZN) last announced its earnings results on Monday, May 13th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $9.98 million for the quarter, compared to the consensus estimate of $0.50 million. On average, research analysts expect that Hyzon Motors Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Fuel Cell Technologies Horizon sold 201,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $0.57, for a total transaction of $114,855.00. Following the completion of the sale, the insider now directly owns 90,376,720 shares of the company’s stock, valued at $51,514,730.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 2,854,355 shares of company stock valued at $456,752 over the last three months. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Hyzon Motors

Several hedge funds have recently modified their holdings of HYZN. FNY Investment Advisers LLC purchased a new stake in Hyzon Motors in the 4th quarter worth about $108,000. Vanguard Group Inc. lifted its stake in Hyzon Motors by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 3,745,622 shares of the company’s stock worth $2,760,000 after acquiring an additional 48,833 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Hyzon Motors by 64.8% in the 3rd quarter. Citigroup Inc. now owns 103,229 shares of the company’s stock worth $129,000 after acquiring an additional 40,583 shares in the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Hyzon Motors Company Profile

Hyzon Motors Inc supplies hydrogen fuel cell systems for decarbonization applications in various industries. The company commercializes its proprietary fuel cell technology through assembling and upfitting heavy duty (HD) hydrogen fuel cell electric vehicles (FCEVs). It also focuses primarily on assembling and converting hydrogen-powered FCEVs; and building and fostering a clean hydrogen supply ecosystem with partners and third parties from feedstock through hydrogen production, dispensing, and financing.