Hyzon Motors (NASDAQ:HYZN) Trading Down 4.6%

Hyzon Motors Inc. (NASDAQ:HYZN)’s share price dropped 4.6% during trading on Monday . The stock traded as low as $0.57 and last traded at $0.57. Approximately 509,924 shares changed hands during trading, an increase of 0% from the average daily volume of 508,664 shares. The stock had previously closed at $0.60.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HYZN shares. Roth Mkm reissued a “buy” rating and set a $1.60 target price on shares of Hyzon Motors in a research note on Monday, March 25th. Roth Capital reissued a “buy” rating on shares of Hyzon Motors in a report on Wednesday, March 6th.

Hyzon Motors Price Performance

The firm’s fifty day moving average is $0.68 and its two-hundred day moving average is $0.81. The firm has a market cap of $148.46 million, a price-to-earnings ratio of -0.81 and a beta of 3.06.

Hyzon Motors (NASDAQ:HYZN) last released its quarterly earnings results on Friday, March 22nd. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.20 million. On average, equities analysts forecast that Hyzon Motors Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Fuel Cell Technologies Horizon sold 4,000,000 shares of Hyzon Motors stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $0.40, for a total transaction of $1,600,000.00. Following the transaction, the insider now directly owns 92,647,986 shares in the company, valued at approximately $37,059,194.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hyzon Motors

Several large investors have recently made changes to their positions in the business. Citigroup Inc. lifted its stake in Hyzon Motors by 64.8% during the third quarter. Citigroup Inc. now owns 103,229 shares of the company’s stock valued at $129,000 after purchasing an additional 40,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Hyzon Motors by 18.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,242,052 shares of the company’s stock valued at $1,553,000 after buying an additional 197,144 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Hyzon Motors during the 4th quarter valued at $108,000. Institutional investors own 61.41% of the company’s stock.

About Hyzon Motors

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.