Analysts Offer Predictions for Hyliion Holdings Corp.’s Q3 2024 Earnings (NYSE:HYLN)

Hyliion Holdings Corp. (NYSE:HYLN) – Equities research analysts at Northland Capmk issued their Q3 2024 earnings per share (EPS) estimates for Hyliion in a report released on Tuesday, October 1st. Northland Capmk analyst E. Jackson forecasts that the company will earn ($0.07) per share for the quarter. Northland Capmk has a “Hold” rating on the stock. The consensus estimate for Hyliion’s current full-year earnings is ($0.29) per share. Northland Capmk also issued estimates for Hyliion’s Q4 2024 earnings at ($0.07) EPS and FY2024 earnings at ($0.29) EPS.

Hyliion (NYSE:HYLN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02.

Separately, Northland Securities boosted their price objective on shares of Hyliion from $1.50 to $2.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th.

Hyliion Price Performance

Shares of HYLN opened at $2.47 on Thursday. Hyliion has a 1 year low of $0.52 and a 1 year high of $2.73. The stock has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $1.75. The firm has a market cap of $429.87 million, a P/E ratio of -4.05 and a beta of 1.90.

Insider Activity

In related news, insider Govindaraj Ramasamy acquired 30,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was purchased at an average price of $1.92 per share, with a total value of $57,600.00. Following the completion of the purchase, the insider now owns 298,000 shares in the company, valued at approximately $572,160. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 20.40% of the company’s stock.

Institutional Trading of Hyliion

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its stake in Hyliion by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 58,072 shares of the company’s stock worth $94,000 after acquiring an additional 9,948 shares during the period. Millennium Management LLC raised its holdings in Hyliion by 64.8% in the 2nd quarter. Millennium Management LLC now owns 4,735,608 shares of the company’s stock worth $7,672,000 after purchasing an additional 1,861,497 shares in the last quarter. AQR Capital Management LLC bought a new position in Hyliion in the 2nd quarter worth $40,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Hyliion in the 2nd quarter worth about $656,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Hyliion by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 574,988 shares of the company’s stock valued at $931,000 after purchasing an additional 51,794 shares in the last quarter. 22.81% of the stock is owned by institutional investors.

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