Holley (NYSE:HLLY) Stock Price Up 10.8% – What’s Next?

Holley Inc. (NYSE:HLLY) shares shot up 10.8% on Monday . The stock traded as high as $3.02 and last traded at $3.0150. 501,415 shares were traded during mid-day trading, a decline of 41% from the average session volume of 842,825 shares. The stock had previously closed at $2.72.

Wall Street Analyst Weigh In

HLLY has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research note on Thursday, January 22nd. Canaccord Genuity Group lifted their price objective on shares of Holley from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. DA Davidson set a $4.50 target price on shares of Holley in a report on Thursday, March 5th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $5.00 target price on shares of Holley in a research report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Holley currently has an average rating of “Moderate Buy” and an average price target of $4.67.

Holley Stock Performance

The company has a 50-day moving average price of $3.88 and a two-hundred day moving average price of $3.70. The stock has a market capitalization of $708.13 million, a P/E ratio of 20.03 and a beta of 1.32. The company has a quick ratio of 0.96, a current ratio of 2.75 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The firm had revenue of $155.44 million during the quarter, compared to the consensus estimate of $142.76 million. Holley had a net margin of 3.13% and a return on equity of 4.84%. Equities analysts expect that Holley Inc. will post 0.12 earnings per share for the current year.

Institutional Trading of Holley

Institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG boosted its position in shares of Holley by 7.2% during the 4th quarter. Deutsche Bank AG now owns 48,294 shares of the company’s stock valued at $199,000 after acquiring an additional 3,251 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Holley by 37.1% in the fourth quarter. ProShare Advisors LLC now owns 13,961 shares of the company’s stock worth $58,000 after purchasing an additional 3,777 shares during the last quarter. State Street Corp raised its stake in Holley by 0.3% in the fourth quarter. State Street Corp now owns 1,141,534 shares of the company’s stock valued at $4,715,000 after purchasing an additional 3,788 shares in the last quarter. Verition Fund Management LLC lifted its position in Holley by 10.7% during the fourth quarter. Verition Fund Management LLC now owns 47,831 shares of the company’s stock valued at $198,000 after purchasing an additional 4,638 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Holley by 16.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock valued at $65,000 after purchasing an additional 4,661 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.