12 Best Multibagger Penny Stocks to Buy Now

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10. Hyliion Holdings Corp. (NYSE:HYLN)

Stock Performance Over Last Year: 120.39%

Number of Hedge Fund Holders: 8

Share Price as of February 5: $2.27

Hyliion Holdings Corp. (NYSE:HYLN) develops sustainable electricity-producing technology through its innovative KARNO generator system. The company provides distributed power generators that can operate on over 20 different fuel sources.

Hyliion Holdings Corp. (NYSE:HYLN) has secured significant milestones, including a $16 million contract from the US Navy’s Office of Naval Research and customer commitments exceeding its 2025 KARNO generator production capacity. Its advanced M Line manufacturing system from Colibrium Additive represents a major production capability upgrade, enabling 2-4 times more parts per machine than current printers.

Hyliion Holdings Corp. (NYSE:HYLN) has made substantial progress in commercialization, with initial KARNO deliveries expected by year-end and revenue guidance in the low double-digit millions for 2025. The company has $237.5 million in cash and investments, a strong order pipeline, and break-even gross margins targeted by late 2025. In this light, Hyliion looks ready to capitalize on the growing demand for sustainable power generation solutions.

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