why Hyliion Holdings Corp. [HYLN] is a Good Choice for Investors After New Price Target of $11.67

Hyliion Holdings Corp. [NYSE: HYLN] surged by $0.44 during the normal trading session on Friday and reaching a high of $12.75 during the day while it closed the day at $12.49. The company report on June 15, 2021 that Hyliion Set to Join Russell 3000 and Russell 2000 Indexes.

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Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, announced it is set to join the broad-market Russell 3000 Index at the conclusion of the 2021 Russell indexes annual reconstitution. This is effective after the US market opens on June 28.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 7, ranking them by total market capitalization. Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

Hyliion Holdings Corp. stock has also gained 5.49% of its value over the past 7 days. However, HYLN stock has inclined by 11.82% in the 3 months of the year. Over the past six months meanwhile, it has lost -31.75% and lost -24.21% year-on date.

The market cap for HYLN stock reached $2.08 billion, with 170.25 million shares outstanding and 108.07 million shares in the current float. Compared to the average trading volume of 4.89M shares, HYLN reached a trading volume of 17298324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Hyliion Holdings Corp. [HYLN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HYLN shares is $11.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HYLN stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Hyliion Holdings Corp. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on February 03, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on December 16, 2020, representing the official price target for Hyliion Holdings Corp. stock. Previously, the target price had yet another raise to $27, while JP Morgan analysts kept a Neutral rating on HYLN stock.

The Average True Range (ATR) for Hyliion Holdings Corp. is set at 0.75 The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 2.88.

HYLN stock trade performance evaluation

Hyliion Holdings Corp. [HYLN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.49. With this latest performance, HYLN shares gained by 19.41% in over the last four-week period, additionally sinking by -31.75% over the last 6 months – not to mention a drop of -28.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HYLN stock in for the last two-week period is set at 60.05, with the RSI for the last a single of trading hit 62.09, and the three-weeks RSI is set at 57.67 for Hyliion Holdings Corp. [HYLN]. The present Moving Average for the last 50 days of trading for this stock 10.39, while it was recorded at 11.90 for the last single week of trading, and 18.74 for the last 200 days.

Hyliion Holdings Corp. [HYLN]: An insightful look at the core fundamentals

Hyliion Holdings Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 61.30 and a Current Ratio set at 61.30.

Hyliion Holdings Corp. [HYLN]: Insider Ownership positions

There are presently around $330 million, or 25.00% of HYLN stock, in the hands of institutional investors. The top three institutional holders of HYLN stocks are: VANGUARD GROUP INC with ownership of 9,111,809, which is approximately 19.87% of the company’s market cap and around 1.50% of the total institutional ownership; HANDELSBANKEN FONDER AB, holding 3,767,334 shares of the stock with an approximate value of $47.05 million in HYLN stocks shares; and BLACKROCK INC., currently with $22.84 million in HYLN stock with ownership of nearly 13.224% of the company’s market capitalization.

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66 institutional holders increased their position in Hyliion Holdings Corp. [NYSE:HYLN] by around 8,802,774 shares. Additionally, 60 investors decreased positions by around 7,845,355 shares, while 12 investors held positions by with 9,754,465 shares. The mentioned changes placed institutional holdings at 26,402,594 shares, according to the latest SEC report filing. HYLN stock had 38 new institutional investments in for a total of 2,099,098 shares, while 30 institutional investors sold positions of 6,021,637 shares during the same period.

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