Hyzon Motors (NASDAQ:HYZN) stock is charging higher on Friday and we’re digging into what’s behind that rise.
Let’s get right into the most recent Hyzon Motors news below!
- HYZN stock is gaining today with the release of its Q3 2021 earnings report.
- That starts off with diluted earnings per share of 13 cents.
- That’s a massive beat over Wall Street’s estimate of -8 cents per share.
- There’s no per share data from the same time last year to compare to.
- Revenue reported by the company was $962,000.
- That’s well below analysts’ estimates of $5.51 million.
- Even so, that’s not dragging shares of HYZN stock down today.
- Hyzon Motors also provides a business update in its earnings report.
- It continues to expect 85 vehicles shipped before the end of the year.
- The company also plans for its vehicles to be on the road in Asia, Australia, Europe, and North America by 2021’s end.
- It also says that Rochester, N.Y., and Bolingbrook, Ill., will enter full production in the second half of 2022.
Craig Knight, CEO of Hyzon Motors, said the following in the earnings report boosting HYZN stock.
“The Hyzon strategy remains unchanged: we are squarely focused on being at the forefront of the rapidly expanding hydrogen mobility industry. This means delivering our vehicles to customers across the globe, while simultaneously expanding access to cost efficient, green hydrogen for our customers.”
HYZN stock is up 14.3% as of Friday afternoon.
Investors looking for more recent stock news will want to stick around!
InvestorPlace offers up the latest coverage that traders need to know about. That includes what’s happening with shares of Everspin Technologies (NASDAQ:MRAM), Farfetch (NYSE:FTCH), and Xpeng (NYSE:XPEV) today. You can get up to speed on that by checking out the links below!
More Stock Market News for Friday
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- XPEV Stock: 7 Things We Know About the Upcoming Launch of the New Xpeng SUV
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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