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Is Hyliion Holdings Corporation’s (NYSE: HYLN) Stock A Good Medium-Term Investment?

Hyliion Holdings Corporation (NYSE:HYLN) price closed higher on Monday, February 12, jumping 7.14% above its previous close.

A look at the daily price movement shows that the last close reads $1.12. The company’s 5Y monthly beta was ticking 1.56. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.58 and 52-week low of $0.52. The stock added 28.87% on its value in the past month.

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Hyliion Holdings Corporation, which has a market valuation of $219.35 million, is expected to release its quarterly earnings report Feb 13, 2024. Analysts tracking HYLN have forecast the quarterly EPS to shrink by -0.11 per share this quarter, while the same analysts predict the annual EPS to hit -$0.63 for the year 2024 and up to -$0.26 for 2024. In this case, analysts estimate an annual EPS growth of 27.60% for the year and 58.70% for the next year.

Staying with the analyst view, there is a consensus estimate of $1.4 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -33.50% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give HYLN a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as Hold.

The overview shows that HYLN’s price is at present 14.25% off the SMA20 and 37.30% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 63.94, with weekly volatility standing at 9.05%. The indicator jumps to 11.73% when calculated based on the past 30 days. Hyliion Holdings Corporation (NYSE:HYLN)’s beta value is holding at 1.56, while the average true range (ATR) indicator is currently reading 0.10.

An analysis of the Hyliion Holdings Corporation (NYSE:HYLN) stock in terms of its daily trading volume indicates that the 3-month average is 0.87. However, this figure increases on the past 10-day timeline to an average of 1.04 million.

Current records show that the company has 179.83M in outstanding shares. The insiders’ percentage holdings are 31.13% of outstanding shares while the percentage share held by institutions stands at 19.16%. The stats also highlight that short interest as of Jan 31, 2024, stood at 8.33 million shares, which puts the short ratio at the time at 6.06. From this we can glean that short interest is 4.56% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 8.04 million. But the 47.47% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.