Hyliion Holdings shares are trading higher after the company announced it has been awarded a $41.7 million contract by the Office of Naval Research to design, develop and deliver two multi-megawatt KARNO Power Modules for validation in land and maritime applications at NAVSEA in Philadelphia.

Robbins LLP Reminds Investors that it is Investigating Hyliion Holdings Corp. for Potential Securities Claims

Robbins LLP is investigating Hyliion Holdings Corp. (AMEX: HYLN) for potential securities law violations and breach of fiduciary duties. The investigation was triggered by a 16% stock drop following a short-seller report questioning the legitimacy of a major customer agreement with VFG Holdings worth $133 million. The report alleged VFG was a newly incorporated shell company with minimal substance, while Hyliion generated only $8 million in cumulative revenue from 2021-2025 despite CEO compensation of $15.4 million.

AI's Next Bottleneck Isn't Chips, It's Power, With Demand Expected to Soar 1,100% by 2033: Why CEG, VST, GEV Stocks Are in Focus

Global AI electricity demand is set to explode, straining an already struggling power grid, with the U.S. absorbing most of it.

Hyliion Holdings shares are trading higher after Northland Capital Markets upgraded the stock from Market Perform to Outperform rating and announced a $10 price target.

Accelerant Holdings, CorMedix, Birkenstock And Other Big Stocks Moving Higher On Thursday

Nasdaq Composite gained 200 points on Thursday, while Accelerant Holdings (NYSE: ARX) rose 44.2% after being acquired by Thoma Bravo and reporting strong Q2 results. Other top gainers include Omeros Corp (NASDAQ: OMER), CorMedix Inc (NASDAQ: CRMD), and Hyliion Holdings Corp (NYSE: HYLN).