Benzinga | Oct 11, 2021 10:45AM EDT

Why Hyliion Shares Are Falling

Hyliion Holdings Corp (NYSE:HYLN) shares are trading lower by 12.9% at $6.82 after UBS downgraded the stock from Neutral to Sell and lowered its price target from $14 to $5.

Hyliion is also trading lower by 19.8% over the past month on continued downward momentum. Shares of several clean energy related companies are trading in recent sessions in sympathy with the overall market amid continued concerns over increased yields, which have heavily impacted stocks across sectors, especially growth stocks.

Hyliion produces electrified powertrain systems for commercial vehicles. The company focuses on reducing the carbon intensity and greenhouse gas emissions of the transportation sector by providing electrified powertrain solutions for Class 8 commercial vehicles at the lowest total cost of ownership.

Hyliion has a 52-week high of $31.83 and a 52-week low of $6.75.