Holley Inc. (NYSE:HLLY) Short Interest Update

Holley Inc. (NYSE:HLLY) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,040,000 shares, an increase of 5.7% from the January 15th total of 1,930,000 shares. Based on an average trading volume of 430,200 shares, the short-interest ratio is presently 4.7 days. Currently, 3.5% of the company’s shares are short sold.

Holley Trading Down 0.2 %

NYSE HLLY traded down $0.01 on Monday, reaching $2.84. The stock had a trading volume of 103,847 shares, compared to its average volume of 332,025. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $2.96. Holley has a 12-month low of $2.29 and a 12-month high of $5.22. The firm has a market capitalization of $339.63 million, a price-to-earnings ratio of 21.81 and a beta of 1.42.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $4.50 price target on shares of Holley in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.63.

Insider Transactions at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the transaction, the director now directly owns 41,556,961 shares in the company, valued at approximately $124,670,883. This represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Holley

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Holley in the 3rd quarter valued at about $52,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Holley by 6.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock valued at $30,117,000 after purchasing an additional 618,449 shares during the period. US Bancorp DE grew its holdings in shares of Holley by 15.9% in the third quarter. US Bancorp DE now owns 100,979 shares of the company’s stock valued at $298,000 after purchasing an additional 13,828 shares in the last quarter. Empowered Funds LLC increased its stake in Holley by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 248,973 shares of the company’s stock worth $734,000 after buying an additional 12,596 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in Holley during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

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.