Why Hyliion Stock Is Sinking Today
Shares of electric-truck drivetrain start-up Hyliion (NYSE: HYLN) were trading lower on Wednesday, after a Goldman Sachs analyst released a bearish note and downgraded the stock.
As of 1:45 p.m. EST today, Hyliion's shares were down about 7.3% from Tuesday's closing price.
In a note released late on Tuesday, Goldman analyst Mark Delaney cut the bank's rating on Hyliion's stock to sell, from hold, with a price target of $12, down from $19. His concern is that the heavy-trucking industry is moving more quickly than expected to zero-emission technologies, meaning that Hyliion's hybrid solutions (which are considerably greener than regular diesel engines, but aren't zero emission) might be overlooked by the market.
Source Fool.com