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New York, New York--(Newsfile Corp. - July 24, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Hyliion Holdings Corp. (NYSE American: HYLN) resulting from allegations that Hyliion may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Hyliion securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/cases/hyliion-holdings-corp/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On June 23, 2026, Investing.com published an article entitled "Hyliion stock tumbles on short seller report questioning VFG deal". The article stated that Hyliion shares fell "following the release of a short report by Pelican Way Research questioning the legitimacy of a key customer agreement that had previously sent the stock surging approximately 150%."

On this news, Hyliion stock fell 17.2% on June 23, 2026.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306560

Source: The Rosen Law Firm PA

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, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. ("Hyliion" or the "Company") (NYSE: HYLN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research ("PWR") published a short report entitled "Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal."  The report stated that Hyliion's stock had risen significantly following the Company's announcement of a non-binding letter of intent ("LOI") with VFG Holdings ("VFG") for up to 250 KARNO Cores, representing approximately $133 million in potential revenue.  The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion's reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion's stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN) (“Hyliion”), a developer of modular power plant technology, today announced that it has been awarded a $41,699,946 cost-plus-fixed-fee contract by the Office of Naval Research. The contract provides for the design, development, construction, testing and delivery of 2-megawatt and 3-megawatt KARNO™ power generation systems at locations identified by the Office of Naval Research. Hyliion expects to provide additional inf.

NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. (“Hyliion” or the “Company”) (NYSE: HYLN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research (“PWR”) published a short report entitled “Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal.”  The report stated that Hyliion’s stock had risen significantly following the Company’s announcement of a non-binding letter of intent (“LOI”) with VFG Holdings (“VFG”) for up to 250 KARNO Cores, representing approximately $133 million in potential revenue.  The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion’s reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion’s stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SAN DIEGO, July 20, 2026 (GLOBE NEWSWIRE) -- Johnson Fistel, PLLP is investigating Hyliion Holdings Corp. (NYSE American: HYLN) on behalf of investors who suffered losses and whether those losses may be recoverable under federal securities laws.

What Should Hyliion Investors Do?
If you purchased Hyliion securities and suffered losses on your investment, you are encouraged to contact Johnson Fistel to learn more about the investigation.

To join the investigation click here.

For more information, contact Jim Baker at [email protected] or (619) 814-4471.

There is no cost or obligation to you.

Why Is Johnson Fistel Investigating Hyliion?
On June 23, 2026, Pelican Way Research published a short report concerning Hyliion titled “Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal.” The report stated that Hyliion’s stock had risen significantly following the Company’s announcement of a non-binding LOI with VFG Holdings for up to 250 KARNO Cores, representing approximately $133 million in potential revenue.

Pelican Way Research alleged that the VFG LOI accounted for roughly one-third of Hyliion’s reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which Pelican Way identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four LinkedIn employees, had a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size.

In light of these allegations, Johnson Fistel is investigating whether Hyliion Holdings complied with federal securities laws. If you suffered losses, or are a long-term holder of Hyliion stock, contact Johnson Fistel.

About Johnson Fistel, PLLP | Securities Fraud & Investor Rights
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder litigation involving securities fraud, breaches of fiduciary duties, and other violations of state and federal law.

Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors.

Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson.

Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations – or – Frank J. Johnson, Esq.
(619) 814-4471
[email protected] | [email protected]

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. ("Hyliion" or the "Company") (NYSE: HYLN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research ("PWR") published a short report entitled "Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal."  The report stated that Hyliion's stock had risen significantly following the Company's announcement of a non-binding letter of intent ("LOI") with VFG Holdings ("VFG") for up to 250 KARNO Cores, representing approximately $133 million in potential revenue.  The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion's reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion's stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

NEW YORK, July 14, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. (“Hyliion” or the “Company”) (NYSE: HYLN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research (“PWR”) published a short report entitled “Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal.”  The report stated that Hyliion’s stock had risen significantly following the Company’s announcement of a non-binding letter of intent (“LOI”) with VFG Holdings (“VFG”) for up to 250 KARNO Cores, representing approximately $133 million in potential revenue.  The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion’s reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion’s stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. ("Hyliion" or the "Company") (NYSE: HYLN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research ("PWR") published a short report entitled "Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal." The report stated that Hyliion's stock had risen significantly following the Company's announcement of a non-binding letter of intent ("LOI") with VFG Holdings ("VFG") for up to 250 KARNO Cores, representing approximately $133 million in potential revenue. The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion's reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion's stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

NEW YORK, July 07, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. (“Hyliion” or the “Company”) (NYSE: HYLN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research (“PWR”) published a short report entitled “Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal.”  The report stated that Hyliion’s stock had risen significantly following the Company’s announcement of a non-binding letter of intent (“LOI”) with VFG Holdings (“VFG”) for up to 250 KARNO Cores, representing approximately $133 million in potential revenue.  The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion’s reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion’s stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

Hyliion stock dropped 13–17% in a single session after a short-seller report challenged the credibility of a $133 million deal

, /PRNewswire/ -- Investors in Hyliion Holdings (NYSE: HYLN) lost up to 17% of their position value in a single trading session after Pelican Way Research published a report questioning the credibility of HYLN's $133 million VFG Holdings Letter of Intent. Shareholders who lost money on their HYLN investment are encouraged to submit their information to discuss their legal rights. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

The VFG LOI represented approximately one-third of HYLN's disclosed 400 million pipeline. On the Q4 2024 earnings call, CEO Thomas Healy described the deal as a signed commitment "to supply prime power on site for data centers, an opportunity for up to an additional 70 megawatts or 350 of our KARNO 4-shaft systems." The short-seller report alleged that VFG appeared to lack the necessary resources to support the approximately133 million opportunity. HYLN shares fell 13–17% the same day the report was published.

Prior to the drop, the VFG LOI had been a central driver of HYLN's share price appreciation. The single-session reversal erased a significant portion of those gains.

If you purchased Hyliion shares and suffered a loss, click here to discuss your legal rights with Levi & Korsinsky. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com

Frequently Asked Questions About the HYLN Investigation

Q: Who is eligible to participate in the HYLN investigation?A: Investors who purchased HYLN stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Hyliion Holdings made materially false or misleading statements regarding the credibility of its 133 million VFG Holdings Letter of Intent and the strength of its 400 million pipeline. When a short-seller report challenged these representations, the stock price declined sharply.

Q: How much did HYLN stock drop?A: Shares fell approximately 13–17% in a single trading session after the Pelican Way Research report was published, reversing a significant portion of the 150%+ rally that followed the initial VFG LOI disclosure.

Q: What do HYLN investors need to do right now?A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.

Q: What happens after I contact Levi & Korsinsky?A: An attorney will review your trading history at no cost and provide an initial assessment of your potential recovery.

Q: What if I already sold my HYLN shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought HYLN and sold at a loss may still participate in the investigation.

Q: Do I need to go to court or give testimony?A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

Q: What does it cost me to participate?A: Nothing. Securities investigations and any resulting actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

CONTACT:\

Levi & Korsinsky, LLP\

Joseph E. Levi, Esq.\

Ed Korsinsky, Esq.\

33 Whitehall Street, 27th Floor\

New York, NY 10004\

[email protected]\

Tel: (212) 363-7500\

Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP

Also from this source

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hyliion Holdings Corp. ("Hyliion" or the "Company") (NYSE: HYLN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Hyliion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On June 23, 2026, Pelican Way Research ("PWR") published a short report entitled "Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal." The report stated that Hyliion's stock had risen significantly following the Company's announcement of a non-binding letter of intent ("LOI") with VFG Holdings ("VFG") for up to 250 KARNO Cores, representing approximately $133 million in potential revenue. The PWR report alleged that the VFG LOI accounted for roughly one-third of Hyliion's reported $400 million-plus pipeline and questioned whether the LOI provided meaningful commercial validation. The report further alleged that VFG, which PWR identified as VFG Tech Holdings, LLC, was incorporated in January 2026, appeared to have only four employees listed on LinkedIn, had only a minimal website, and lacked evidence of funding or operating substance sufficient to support an order of that size. 

Following publication of the PWR report, Hyliion's stock price fell $1.27 per share, or 17.2%, to close at $6.10 per share on June 23, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

Hyliion reported 100% revenue concentration in a single unidentified customer in its Q1 2026 filing -- even while management touted a $400 million pipeline based largely on non-binding arrangements.

, /PRNewswire/ -- Hyliion Holdings (NYSE: HYLN) lost 13-17% of its share price in a single trading session after a short-seller report challenged the credibility of a $133 million deal that represented roughly one-third of the company's disclosed pipeline. Shareholders who lost money on HYLN are encouraged to submit their information for a free evaluation. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

Hyliion's Q1 2026 10-Q, filed May 12, 2026, disclosed that a single unidentified customer accounted for 100% of quarterly revenue. The filing did not name the customer or address concentration risk. During the same period, management publicly described a pipeline of "nearly 500 units under non-binding letters of intent" across multiple customers on its Q4 2025 earnings call on February 25, 2026.

The company's 10-K for fiscal year 2025, filed February 25, 2026, contained no reference to the $133 million AI-data-center LOI with VFG Holdings. CEO Thomas Healy signed a Sarbanes-Oxley Section 302 certification on the same filing, attesting that it did not omit any material fact necessary to make the statements made not misleading.

Investors who purchased Hyliion shares and suffered a loss may click here to discuss their legal rights. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.

Frequently Asked Questions About the HYLN Investigation

Q: Who is eligible to participate in the HYLN investigation?A: Investors who purchased HYLN stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Hyliion Holdings made materially false or misleading statements regarding its customer pipeline, revenue concentration, and the status of its $133 million VFG Holdings LOI. When a short-seller report challenged these representations, the stock price declined sharply.

Q: How much did HYLN stock drop?A: Shares fell approximately 13-17% in a single trading session after the short-seller report questioned the credibility of a deal representing roughly one-third of the company's disclosed $400 million pipeline.

Q: What do HYLN investors need to do right now?A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.

Q: What happens after I contact Levi & Korsinsky?A: An attorney will review your trading history at no cost and provide an initial assessment of your potential recovery.

Q: What if I already sold my HYLN shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought HYLN and sold at a loss may still participate in the investigation.

Q: Do I need to go to court or give testimony?A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

Q: What does it cost me to participate?A: Nothing. Securities investigations and any resulting actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-750
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Hyliion Holdings Corp. (“Hyliion” or “the Company”) (NYSE American: HYLN) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hyliion is the subject of a report published by Pelican Way Research on June 23, 2026, titled: “Hyliion: A Glorified Science Project Who Has Continuously Failed To Meet Expectations And Is Now Throwing Around A Meaningless Deal.” The report claims a large percentage of the Company’s pipeline is comprised on a non-binding LOI with VFG Holdings which Pelican Way Research claims lacks commercial viability.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

-

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN), a developer of modular power plant technology, today announced it will host a conference call and accompanying webcast at 10:00 a.m. CT / 11:00 a.m. ET on Wednesday, May 13, 2026 to discuss its financial results, the company's business, and outlook. Hyliion plans to report its Q1 2026 financial results after the market close on Tuesday, May 12, 2026.

Hyliion’s Q1 2026 Conference Call
Date: Wednesday, May 13, 2026
Time: 10:00 a.m. CT / 11:00 a.m. ET

Conference Call Online Registration for the Q&A:
https://events.q4inc.com/analyst/954135636?pwd=U3P78Fhs

Access the Webcast:
https://events.q4inc.com/attendee/954135636

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About Hyliion

Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide modular power plant technology that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable KARNO™ Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.

More News From Hyliion Holdings Corp.

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AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN) (“Hyliion”), a developer of modular power plant technology, today reported financial results for the first quarter ended March 31, 2026, and provided key updates on the development of the KARNO™ Power Module platform.

Key Business Highlights

Successfully completed non-recurring UL certification testing of the KARNO Power Module, a key milestone for enabling customer site deliveries Executed an LOI with advanced data center developer VFG Holdings for up to 250 KARNO Cores, or 50 megawatts, targeted over five years Nearly 750 KARNO Cores under non-binding letters of intent, representing more than $400 million of potential revenue at current pricing On track to complete the deployment of the approximately 10 early adopter units in 2026 and commercialize the KARNO Power Module by year end Commenced build of an 800-kilowatt KARNO system for an unmanned U.S. Navy vessel, the same platform to be used in multi-megawatt systems for data center applications Reaffirming $40 to $50 million in expected additional U.S. military contracts during 2026 Demonstrated dynamic in-operation fuel switching across diesel, natural gas, and hydrogen on a single KARNO reactor Recorded first-quarter revenue of $2.8 million, up fourfold from Q4 2025 revenue; reaffirming 2026 revenue guidance of approximately $10 million Finished the quarter with $139.3 million in cash and investments while reaffirming a 2026 year-end cash and investments balance of approximately $100 million Executive Commentary

"The first quarter delivered tangible progress against the deployment-and-commercialization plan we outlined for 2026, including completion of UL non-recurring testing on the KARNO Power Module, a new data center partnership with VFG Holdings, demonstrated multi-fuel flexibility, and four times the revenue of the prior quarter," said Thomas Healy, Founder and CEO of Hyliion. "Our focus for the balance of the year remains on execution as we work toward commercialization of the KARNO Power Module by year end."

Product Performance and Readiness

Hyliion successfully completed the non-recurring UL certification testing of the KARNO Power Module, removing a key gating item for delivering early adopter units to customer sites. The testing covered three subsystems: the linear electric motor, the battery system, and the complete Power Module, with each undergoing separate UL certification. Individual KARNO Power Modules will still undergo a final operating test prior to receiving their nameplate certification, but the underlying non-recurring tests do not need to be repeated. Later in the year, the company expects to advance to facility-level certification, which will eliminate the need for individual unit sign-off and support production at scale.

Hyliion continues to operate KARNO units at its Cincinnati facility and is advancing toward the full 200-kilowatt design power rating. During the quarter, the team conducted isolated testing of new software and component improvements that yielded additional power and efficiency gains. Hyliion plans to incorporate these and other advancements into the product over the coming quarters and remains on track to reach the full design power rating by year end.

Fuel flexibility remains a key differentiator of the KARNO platform. During the first quarter, Hyliion demonstrated dynamic, in-operation fuel switching across diesel, natural gas, and hydrogen on a single KARNO reactor without shutting the system down. This capability is particularly relevant for applications that require on-site fuel resiliency, such as data centers operating primarily on pipeline natural gas with diesel as backup, and defense operations where fuel availability shifts in the moment.

KARNO Commercial Updates

Hyliion remains on track to complete deployment of the approximately 10 early adopter units during 2026 and commercialize the KARNO Power Module by year end. With UL non-recurring testing now complete, Hyliion will begin transitioning units to customer sites over the next couple of quarters.

Hyliion and VFG Holdings, LLC entered into a non-binding Letter of Intent (“LOI”) establishing a strategic partnership focused on deploying KARNO Power Modules for advanced next-generation data center applications. The parties intend to pursue deployment opportunities totaling up to 250 KARNO Cores, or 50 megawatts of power generation capacity, over the next five years. VFG develops turnkey data center solutions, including power infrastructure, compute systems, site development, and financing. The parties expect to provide additional updates regarding the collaboration and initial deployment opportunities in future periods.

Hyliion has commenced the build of an 800-kilowatt KARNO Power Module for installation on an unmanned U.S. Navy vessel under existing Office of Naval Research contracts, with completion expected in 2026. The 800-kilowatt architecture also serves as the foundational building block for the company's data center offering, scalable to 2.4 and 3.2 megawatts to match the modular power requirements of data center customers.

Hyliion is now engaged with multiple branches of the U.S. military beyond the Navy and Air Force, driven by interest in the platform's true fuel-agnostic operation, low maintenance, and low acoustic and thermal signature, which suit autonomous operations and mobile power generation. The company expects to sign $40 to $50 million in additional military contracts during 2026, on top of the approximately $20 million in ONR contracts currently being executed, subject to customary government contracting processes.

Customer interest in the KARNO platform continues to grow. As of quarter end, Hyliion had executed non-binding letters of intent for nearly 750 KARNO Cores across data center, military, prime power, and other applications, representing more than $400 million of potential revenue at current pricing.

Financial Highlights and Guidance

Hyliion recorded first-quarter 2026 revenue of $2.8 million from research and development services, compared to $0.5 million in the first quarter of 2025 and $0.7 million in the fourth quarter of 2025. The significant growth reflects an acceleration of work under the company's contracts with the Office of Naval Research, including the build of the 800-kilowatt KARNO Power Module being delivered for the Navy. Cost of revenues was $2.6 million, resulting in a gross margin gain of $0.2 million for the quarter.

Operating expenses for the first quarter were $13.4 million, compared to $19.7 million in the first quarter of 2025, primarily reflecting lower research and development spending. R&D expense was $7.7 million, down 37% from $12.2 million in the first quarter of 2025. The reduction reflects a shift of activity into revenue-generating work for the Navy as well as approximately $1.9 million related to the production and capitalization of inventory that the company expects to utilize in future periods for building KARNO systems for the Navy. The Powertrain Exit and Termination line reflected a credit of $0.4 million during the quarter compared to expenses of $1.4 million in the first quarter of 2025, primarily reflecting ongoing asset sales related to the former powertrain business that are largely complete. SG&A expenses were relatively flat year over year.

Hyliion reported a first-quarter 2026 net loss of $11.7 million, a 32% improvement from the net loss of $17.3 million reported in the first quarter of 2025. Total cash expenditures were $13.0 million during the quarter, including capital spending of $1.9 million related primarily to additive printing machines and facility investments to support printer operations. Cash generated from asset sales was $1.6 million. Hyliion ended the first quarter with $139.3 million in cash and short and long-term investments.

Looking ahead to the balance of 2026, Hyliion is reaffirming its prior guidance of approximately $10 million in full-year revenue from R&D services and potential initial commercial customer sales following commercialization of the 200-kilowatt KARNO Power Module, which is expected late in the year. The company expects total cash use during the year to be approximately $50 million, resulting in a year-end 2026 cash and investments balance of approximately $100 million. The reduced cash use forecast compared to 2025 reflects higher revenue, expense control, lower capital spending, and approximately $10 million of planned equipment financing. The company continues to believe its current capital position is sufficient to fund operations through commercialization of the KARNO Power Module.

About Hyliion

Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide modular power plants that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with locally deployable KARNO Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO Power Module is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early stage company with a history of losses, and our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business; our ability to comply with governmental regulations related to defense spending and procurement; the suitability of our products for defense applications; and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026 for the year ended December 31, 2025 and in our subsequently filed Forms 10-Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

HYLIION HOLDINGS CORP.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollar amounts in thousands, except share and per share data)

  Three Months Ended March 31,

2026

2025

Revenues

Research and development services

$

2,832

$

489

Total revenues

2,832

489

Cost of revenues

Research and development services

2,622

477

Total cost of revenues

2,622

477

Gross profit

210

12

Operating expenses

Research and development

7,670

12,230

Selling, general and administrative

6,181

6,081

Exit and termination (benefits) costs

(414

)

1,423

Total operating expenses

13,437

19,734

Loss from operations

(13,227

)

(19,722

)

Interest income

1,490

2,468

Net loss

$

(11,737

)

$

(17,254

)

Net loss per share, basic and diluted

$

(0.07

)

$

(0.10

)

Weighted-average shares outstanding, basic and diluted

177,668,678

174,344,218

HYLIION HOLDINGS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollar amounts in thousands, except share data)

  March 31,
2026

December 31,
2025

(Unaudited)

Assets

Current assets

Cash and cash equivalents

$

20,262

$

22,938

Accounts receivable, net

3,026

489

Inventory

1,919

—

Prepaid expenses and other current assets

4,031

4,597

Short-term investments

52,208

69,427

Assets held for sale

—

1,181

Total current assets

81,446

98,632

Property and equipment, net

38,494

40,461

Operating lease right-of-use assets

2,963

3,468

Other assets

990

1,004

Long-term investments

66,858

59,994

Total assets

$

190,751

$

203,559

Liabilities and stockholders’ equity

Current liabilities

Accounts payable

$

901

$

3,142

Current portion of operating lease liabilities

2,804

2,726

Accrued expenses and other current liabilities

4,369

3,995

Total current liabilities

8,074

9,863

Operating lease liabilities, net of current portion

912

1,646

Other liabilities

41

41

Total liabilities

9,027

11,550

Stockholders’ equity

Common stock, $0.0001 par value; 250,000,000 shares authorized; 188,927,224 and 187,878,790 shares issued at March 31, 2026 and December 31, 2025, respectively; 178,317,154 and 177,268,720 shares outstanding as of March 31, 2026 and December 31, 2025, respectively

19

19

Additional paid-in capital

414,574

413,122

Treasury stock, at cost

(14,132

)

(14,132

)

Accumulated deficit

(218,737

)

(207,000

)

Total stockholders’ equity

181,724

192,009

Total liabilities and stockholders’ equity

$

190,751

$

203,559

HYLIION HOLDINGS CORP.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollar amounts in thousands)

  Three Months Ended March 31,

2026

2025

Cash flows from operating activities

Net loss

$

(11,737

)

$

(17,254

)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization

2,109

1,142

Amortization and accretion of investments, net

(247

)

(575

)

Noncash lease expense

505

525

Gain on disposal of assets, including assets held for sale

(414

)

(279

)

Share-based compensation

1,452

1,295

Carrying value adjustment to assets held for sale

—

1,590

Changes in operating assets and liabilities:

Accounts receivable

(2,537

)

(5

)

Inventory

(1,919

)

—

Prepaid expenses and other assets

856

1,626

Accounts payable

(389

)

(54

)

Accrued expenses and other liabilities

251

(1,430

)

Operating lease liabilities

(656

)

(585

)

Net cash used in operating activities

(12,726

)

(14,004

)

Cash flows from investing activities

Purchase of property and equipment

(1,874

)

(7,334

)

Proceeds from sale of property and equipment

1,598

219

Receipt of security deposit

—

41

Purchase of investments

(15,174

)

—

Proceeds from sale and maturity of investments

25,500

24,627

Net cash provided by investing activities

10,050

17,553

Cash flows from financing activities

Taxes paid related to net share settlement of equity awards

—

(444

)

Net cash used in financing activities

—

(444

)

Net (decrease) increase in cash and cash equivalents and restricted cash

(2,676

)

3,105

Cash and cash equivalents and restricted cash, beginning of period

23,603

9,892

Cash and cash equivalents and restricted cash, end of period

$

20,927

$

12,997

More News From Hyliion Holdings Corp.

Hyliion Holdings Corp. (HYLN) Q1 2026 Earnings Call Transcript

AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE American: HYLN) (“Hyliion”), a developer of modular power generation technology, today announced that its KARNO Power Module has been named the 2026 Most Valuable Product (MVP) in Consulting-Specifying Engineer’s annual Product of the Year program. The KARNO technology received the highest overall vote total across all six award categories, ahead of new offerings from some of the industry’s most established power generation, electrical, and building systems manufacturers.

The award comes as electricity demand continues to rise across AI-driven data centers, defense applications, industrial expansion, and other critical power markets. Customers increasingly require onsite generation that can be rapidly deployed, operate reliably, offer compelling economics, and meet growing environmental performance expectations.

“Being chosen as the top new product of 2026 across every category, and against entries from some of the most established names in power generation, is an extraordinary validation of the KARNO Power Module,” said Thomas Healy, Founder and Chief Executive Officer of Hyliion. “The CSE community understands the real-world demands of power generation, from lifecycle economics and reliability to permitting and emissions. Their decision to rank our solution ahead of products from companies that have defined this industry for decades reinforces our belief that the market is ready for a new approach to onsite power generation.”

Hyliion is deploying early units in data center, defense, and prime power applications ahead of broader commercial availability in 2027. The Company has received confirmation from the Environmental Protection Agency (EPA) supporting KARNO deployment across all 50 states and successfully completed all non-recurring UL certification testing. In addition, the U.S. Navy’s Office of Naval Research (ONR), in partnership with the Defense Advanced Research Projects Agency (DARPA), has selected the USX-1 Defiant as a candidate test vessel for evaluating Hyliion’s KARNO technology in unmanned autonomous surface vessel applications.

The KARNO Power Module is a fuel-flexible linear generator designed to provide onsite prime power while reducing reliance on the electric grid. It is offered in both a 200kW configuration and a larger multi-megawatt system footprint, each of which is designed to be coupled together to support increasing power demands. Enabled by advanced additive manufacturing, the system is engineered to deliver efficient, low-emissions power generation with reduced maintenance complexity. The KARNO Power Module is designed to operate on more than 20 fuel sources, including natural gas, diesel, propane, hydrogen, and JP8. In addition, the KARNO Power Module’s native 800VDC output aligns with emerging architectures in next-generation AI data centers.

Consulting-Specifying Engineer’s Product of the Year program is one of the longest-running reader-choice awards in the professional engineering industry, recognizing products across six categories spanning mechanical, electrical, plumbing, fire/life safety, lighting, and non-residential building systems. Products are evaluated based on technological innovation, service to the industry, and market impact, criteria that align closely with the KARNO Power Module’s goal of rethinking distributed power generation.

About Hyliion

Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide modular power plant technology that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, Ohio, Hyliion is initially targeting the commercial and waste management industries with a locally deployable KARNO Power Module that can offer prime power as well as energy arbitrage opportunities. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine vessels. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.

Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early stage Company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business, and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026 for the year ended December 31, 2025 and subsequently filed Form 10-Qs. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.

More News From Hyliion Holdings Corp.

It's been a while since an analyst has held Hyliion Holdings (HYLN 1.13%) shares in such high regard. With an analyst initiating coverage and taking a bullish stance on the manufacturer of module power systems, investors are clearly enthusiastic about the prospect of adding Hyliion stock to their portfolios.

As of 12:26 p.m. ET, Hyliion's shares are up 7%, after retreating from an earlier 15.1% rise.

Image source: Getty Images.

Potential to power even higher Setting a $9 price target, Needham analyst Sean Milligan initiated coverage of Hyliion stock with a buy rating this morning. The last time an analyst set such a high price target was in November 2021, when a Cantor Fitzgerald analyst set a $12 price target for the stock.

Today's Change

(

-1.13

%) $

-0.09

Current Price

$

7.42

Based on Hyliion's closing price of $6.34 yesterday, Milligan's price target implies upside of 42%.

According to Thefly.com, Milligan based his outlook on confidence that the company will begin commercialization of its Karno power module in the next 12 months and that it will become a "disruptor within bring-your-own power end markets."

The Karno power module has various applications, including data centers. In Q1 2026, the company announced it signed a letter of intent with a data center developer to supply 250 Karno Cores over five years.

Is now the time to click the buy button on Hyliion? While one analyst has higher hopes for Hyliion's stock, investors would be well-advised to take the industrial stock's price target with a grain of salt. A better approach is to focus on the company's progress in commercializing its Karno power module. Should the company succeed in bringing the power module to market, it will be an auspicious sign -- one worth investors getting charged up about, as it suggests the company can gain market share in the data center market.

Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.