Hyliion Holdings Corp. (NYSE:HYLN) rallied 17.8% in late morning trading on Thursday and carved out a new 52-week high of $3.48 along the way. Volume on the stock was above normal activity.

A little bit of insider buying action may have been a factor in the share price move higher. Late on Wednesday, the company disclosed in an SEC filing that board director Craig Jeffrey bought 50,000 shares at $2.95. Jeffrey holds a total of 282,060 shares.

Hyliion Holdings' (HYLN) projections for 2025 include growth of KARNO generator deliveries, with proceeds from sales and research and development services in the low double-digit millions of dollars. The Austin-based company is also targeting approximately break-even gross margins on a cash basis by late 2025 or early 2026, with cash spending to grow modestly compared to 2024.