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

Holley Inc. (NYSE:HLLY) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,930,000 shares, a decline of 8.1% from the November 15th total of 2,100,000 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average daily trading volume, of 389,600 shares, the days-to-cover ratio is presently 5.0 days.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HLLY shares. Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group dropped their target price on Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Holley has an average rating of “Moderate Buy” and a consensus price target of $6.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC purchased a new position in Holley during the 3rd quarter valued at about $35,000. Intech Investment Management LLC acquired a new position in shares of Holley during the 3rd quarter worth approximately $41,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Holley in the 2nd quarter valued at approximately $42,000. SG Americas Securities LLC acquired a new stake in Holley during the 3rd quarter valued at $52,000. Finally, Virtu Financial LLC purchased a new position in Holley during the third quarter worth $54,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Trading Up 3.8 %

Shares of HLLY opened at $2.85 on Wednesday. Holley has a twelve month low of $2.29 and a twelve month high of $5.23. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $340.82 million, a P/E ratio of 21.88 and a beta of 1.47. The firm’s 50-day moving average is $2.79 and its two-hundred day moving average is $3.15.

Holley (NYSE:HLLY) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, research analysts predict that Holley will post 0.12 earnings per share for the current fiscal year.

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.