In the past few days, the Hyliion Holdings Corp (NYSE:HYLN) stock has been in the middle of a fairly strong rally. It continued yesterday as the stock went up by another 4% for the day and ended up with gains of as much as 22% for the past week.
Trading Data
On Tuesday, HYLN stock gained 3.70% to $4.49 with more than 1.70 million shares, compared to its average volume of 2.80 million shares. The stock moved within a range of $4.3300 – 4.6250 after opening trading at $4.35.
Mone Transport Converts Previous Hypertruck ERX™ Reservation to 20-Unit Order
The company is one of the leading operators in the electrified powertrain solutions meant for the Class 8 semi-trucks space and yesterday it made a key announcement. Hylilon announced that the company Mone Transport had placed an order as many as 20 units for securing the Hypertruck ERX production slots. It should be noted that the orders have also been backed up by the requisite deposits.
The development was a significant one for the company consnidering the fact that the Texas based Mone Transport is a door to door service providing firm and remains one of the earlier adopters of green technology in the sector.
The company is going to deploy the hybrid diesel solutions from Hylilon. It ought to be noted that the solutions have been incorporated into the operations already. It remains to be seen if the stock can add to its gains today.
Key Quote
“From the outset of our work with Mone, it was apparent that they are a forward-thinking, technology-minded company and I’m thrilled that their interest in our powertrain solutions continues to grow with their Hypertruck ERX order,” said Thomas Healy, Founder and CEO of Hyliion.
Technical Data
HYLN stock is trading above the 20-Day and 50-Day Moving averages of $4.12 and $4.25 respectively. However, the stock is trading below the 200-Day moving average of $7.47.
