HYZN - Hyzon Motors jumps 17% as recent rally extends
2023-07-13 11:00:50 ET
Hyon Motors ( NASDAQ: HYZN ) was the leading gainer in the broad electric vehicle sector in Thursday morning trading with a 17% pop that extended a three-day rally.
Earlier in the week, the company announced the successful completion and factory acceptance testing of the first nine single-stack 200kW Fuel Cell System B-samples at its production and innovation center in Bolingbrook, Illinois. The global supplier of fuel cell electric mobility said it remains on track to declare the start of production and commercialization of its innovative FCS in 2024 after hitting the milestone. The successful completion of testing of Hyzon's nine 200kW FCS B-samples in the first half of the year is said to demonstrate consistent progress toward commercial production. The new achievement also follow the commissioning of Hyzon's ( HYZN ) proprietary, automated roll-to-roll Membrane Electrode Assembly production line including in-line inspection and the installation of its single cell and fully automated fuel cell stack manufacturing lines. HYZN said the progression of the 200kW FCS B-samples validates the design, equipment, and operating procedures, which are noted to be critical to the final tooling and production of C-samples and the eventual commercialization of the FCS.
Shares of Hyzon Motors ( HYZN ) were up 16.96% at 11:05 a.m. and were swapping hands at the highest level since late February. Trading volume on HYZN has been above normal levels all week. Of note, the stock has a short interest position on it of 25.4% of total float, which has been adding to the volatile swings.
More on Hyzon Motors:
- Hyzon Motors: Remaining Liquidity Depleting Quickly - Avoid
- Valuation metrics on Hyzon Motors
- Recent options trades on Hyzon Motors
- Seeking Alpha's Quant Rating for Hyzon Motors
For further details see:
Hyzon Motors jumps 17% as recent rally extends