62.7 F
New York
Saturday, October 24, 2020

Hyliion Holdings Corp. (NYSE:HYLN) Stock is Soaring, Here is Why

Must read

Remark Holdings Inc. (NASDAQ:MARK) Finding Zero Support

Remark Holdings Inc. (MARK) shares are trading at lower $1.13. To add more color to this target, the company’s high over the last year...

TEGNA Inc. (NYSE:TGNA) on the Path to Profitability

TEGNA Inc. (TGNA) shares are trading at higher $13.02 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

The Unprecedented Rise of Professional Diversity Network Inc. (NASDAQ:IPDN)

Professional Diversity Network Inc. (IPDN) shares are trading at higher $1.26. To add more color to this target, the company’s high over the last...

Investor Confidence is Falling for Niu Technologies (NASDAQ:NIU)

Niu Technologies (NIU) shares are trading at lower $27.65 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Hyliion Holdings Corp. (HYLN) shares are trading at higher $30.95.

To add more color to this target, the company’s high over the last year is $58.66 and the low is $9.50. Over the last 52 weeks, HYLN is up 218.09% while the S&P 500 is up 18.03%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

Find out when HYLN reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. HYLN has outstanding shares of 29.13M.

Company Outlook

HYLN has seen increased volume after this news and investors are putting their support behind the value proposition. Hyliion Holdings Corp. HYLN also noted assets of $237.0 million at the end of the last quarter. Investors should also keep an eye on sector updates as HYLN has historically followed its peers on positive news.

All told, Hyliion Holdings Corp. HYLN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, HYLN represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Disclosure: we hold no position in HYLN, either long or short, and we have not been compensated for this article.

Latest article

Genpact Limited (NYSE:G) Stock is Soaring, Here is Why

Genpact Limited (G) shares are trading at higher $36.98 and the avg recommendation for the stock is Strong Buy, while the current analyst price...

Microchip Technology Incorporated (NASDAQ:MCHP) is Holding Steady

Microchip Technology Incorporated (MCHP) shares are trading at higher $112.52 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Investor Confidence is Rising for Sysco Corporation (NYSE:SYY)

Sysco Corporation (SYY) shares are trading at higher $65.21 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Agenus Inc. (NASDAQ:AGEN) is Gaining Momentum on Earnings Catalyst

Agenus Inc. (AGEN) shares are trading at higher $4.08 and the avg recommendation for the stock is Strong Buy. To add more color to...

The Rejuvenation of Costco Wholesale Corporation (NASDAQ:COST)

Costco Wholesale Corporation (COST) shares are trading at lower $375.75 and the avg recommendation for the stock is Moderate Buy, while the current analyst...