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
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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.
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.