Holley Inc. (NYSE:HLLY) Short Interest Update

Holley Inc. (NYSE:HLLY) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,250,000 shares, a drop of 7.0% from the October 15th total of 2,420,000 shares. Based on an average daily trading volume, of 378,600 shares, the days-to-cover ratio is currently 5.9 days. Approximately 4.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Holley

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. lifted its stake in Holley by 1.3% in the first quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock worth $1,801,000 after acquiring an additional 5,000 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Holley in the 1st quarter worth approximately $43,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Holley by 129.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock valued at $34,335,000 after purchasing an additional 5,409,997 shares in the last quarter. Skylands Capital LLC increased its holdings in Holley by 37.6% during the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after buying an additional 306,874 shares during the period. Finally, ClariVest Asset Management LLC increased its holdings in Holley by 1.8% during the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock valued at $1,104,000 after buying an additional 5,431 shares during the period. Institutional investors own 39.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on HLLY shares. Raymond James cut their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Telsey Advisory Group cut their price target on shares of Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. Truist Financial dropped their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group reduced their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Holley Price Performance

Shares of HLLY stock opened at $2.76 on Monday. The company has a market capitalization of $330.59 million, a P/E ratio of 21.23 and a beta of 1.45. The company’s 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $3.32. Holley has a one year low of $2.29 and a one year high of $5.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.19.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, equities analysts anticipate that Holley will post 0.14 EPS for the current year.

About Holley

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.