Hyzon Motors (NASDAQ:HYZN) Sees Strong Trading Volume – Should You Buy?

Shares of Hyzon Motors Inc. (NASDAQ:HYZN) saw strong trading volume on Thursday . 196,017 shares were traded during trading, a decline of 31% from the previous session’s volume of 282,671 shares.The stock last traded at $2.03 and had previously closed at $2.15.

Hyzon Motors Stock Down 7.9 %

The stock has a market capitalization of $489.85 million, a P/E ratio of -2.64 and a beta of 2.85. The business has a fifty day moving average price of $2.62 and a 200-day moving average price of $14.39.

Hyzon Motors (NASDAQ:HYZN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($10.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($7.50) by ($3.00). The firm had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $1.00 million. During the same quarter in the prior year, the firm posted ($12.50) earnings per share.

Insider Transactions at Hyzon Motors

In other news, major shareholder Fuel Cell Technologies Horizon sold 28,220 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.00, for a total value of $141,100.00. Following the transaction, the insider now owns 1,028,743 shares of the company’s stock, valued at $5,143,715. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 234,455 shares of company stock valued at $948,098 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of Hyzon Motors

A hedge fund recently raised its stake in Hyzon Motors stock. Van ECK Associates Corp increased its holdings in shares of Hyzon Motors Inc. (NASDAQ:HYZN) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,022,830 shares of the company’s stock after purchasing an additional 111,431 shares during the quarter. Van ECK Associates Corp owned approximately 0.41% of Hyzon Motors worth $328,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 61.41% of the company’s stock.

Hyzon Motors Company Profile

Hyzon Motors Inc supplies hydrogen fuel cell systems for decarbonization applications in various industries. The company commercializes its proprietary fuel cell technology through assembling and upfitting heavy duty (HD) hydrogen fuel cell electric vehicles (FCEVs). It also focuses primarily on assembling and converting hydrogen-powered FCEVs; and building and fostering a clean hydrogen supply ecosystem with partners and third parties from feedstock through hydrogen production, dispensing, and financing.