Holley Inc. (NYSE:HLLY) Sees Significant Decline in Short Interest

Holley Inc. (NYSE:HLLY) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 1,850,000 shares, a decrease of 16.3% from the February 28th total of 2,210,000 shares. Based on an average trading volume of 401,400 shares, the short-interest ratio is currently 4.6 days. Currently, 3.1% of the shares of the company are short sold.

Holley Stock Performance

Holley stock traded up $0.02 during midday trading on Tuesday, hitting $2.59. 341,293 shares of the company’s stock were exchanged, compared to its average volume of 390,564. The firm’s 50 day simple moving average is $2.77 and its 200 day simple moving average is $2.84. Holley has a 12-month low of $2.26 and a 12-month high of $4.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The stock has a market cap of $310.09 million, a price-to-earnings ratio of 19.88 and a beta of 1.44.

Holley (NYSE:HLLY) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $140.05 million for the quarter, compared to analyst estimates of $137.60 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. Equities research analysts predict that Holley will post 0.12 EPS for the current year.

Analyst Ratings Changes

HLLY has been the topic of a number of research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $4.50 target price on shares of Holley in a research report on Wednesday, March 12th. Raymond James lifted their price target on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.80.

Hedge Funds Weigh In On Holley

A number of large investors have recently bought and sold shares of HLLY. Janney Montgomery Scott LLC increased its stake in shares of Holley by 25.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after acquiring an additional 3,210 shares during the period. Aigen Investment Management LP boosted its holdings in Holley by 22.1% in the 4th quarter. Aigen Investment Management LP now owns 18,693 shares of the company’s stock valued at $56,000 after purchasing an additional 3,389 shares in the last quarter. SG Americas Securities LLC increased its position in Holley by 39.8% during the 4th quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock worth $74,000 after purchasing an additional 7,002 shares during the period. Zacks Investment Management raised its stake in shares of Holley by 69.5% during the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after buying an additional 8,061 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Holley in the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Company Profile

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.