Hyzon Motors Inc. (NASDAQ:HYZN – Get Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $2.38, but opened at $2.26. Hyzon Motors shares last traded at $2.25, with a volume of 59,878 shares.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on HYZN. Wedbush lowered Hyzon Motors from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $7.00 to $3.00 in a research report on Friday, August 5th. The Goldman Sachs Group lowered their price target on shares of Hyzon Motors from $6.00 to $5.25 and set a "neutral" rating on the stock in a research report on Thursday, June 23rd. Melius downgraded shares of Hyzon Motors from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. JPMorgan Chase & Co. lowered shares of Hyzon Motors from an "overweight" rating to an "underweight" rating in a research note on Friday, August 5th. Finally, Morgan Stanley reduced their price target on shares of Hyzon Motors from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.25.
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Hyzon Motors Price Performance
The firm has a market cap of $567.69 million, a PE ratio of -19.83 and a beta of 2.21. The company has a 50 day moving average price of $3.63 and a 200 day moving average price of $4.52.
Institutional Trading of Hyzon Motors
Several hedge funds have recently bought and sold shares of the company. Invesco Ltd. acquired a new position in shares of Hyzon Motors during the fourth quarter valued at about $21,365,000. Hood River Capital Management LLC bought a new position in shares of Hyzon Motors during the 1st quarter worth about $16,377,000. Vanguard Group Inc. boosted its stake in Hyzon Motors by 176.2% in the first quarter. Vanguard Group Inc. now owns 3,589,810 shares of the company's stock valued at $22,938,000 after acquiring an additional 2,290,045 shares during the last quarter. SG Americas Securities LLC purchased a new position in Hyzon Motors in the 1st quarter worth approximately $6,006,000. Finally, Long Focus Capital Management LLC purchased a new stake in Hyzon Motors in the 4th quarter worth approximately $4,868,000. 17.32% of the stock is currently owned by institutional investors.
Hyzon Motors Company Profile
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Hyzon Motors Inc, a hydrogen mobility company, provides decarbonized solutions for commercial vehicles market and hydrogen supply infrastructure. The company focuses on assembling and supplying hydrogen-powered FCEVs, including heavy-duty (Class 8) trucks, medium-duty (Class 6) trucks, light-duty (Class 3 and 4) trucks, and 40 and 60-foot (12 and18-meter) city and coach buses to commercial vehicle operators; and building and fostering a clean hydrogen supply ecosystem with leading partners from feedstock through hydrogen production, dispensing, and financing.
Further Reading
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