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

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

Insider Activity at Holley

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

Hedge Funds Weigh In On Holley

A number of large investors have recently bought and sold shares of the business. Verition Fund Management LLC acquired a new stake in Holley in the third quarter valued at approximately $35,000. JPMorgan Chase & Co. raised its holdings in shares of Holley by 102.1% in the third quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock worth $424,000 after buying an additional 72,641 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Holley by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after buying an additional 55,641 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Holley by 6.4% during 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 buying an additional 618,449 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Holley by 288.3% in the 3rd quarter. Barclays PLC now owns 75,795 shares of the company’s stock valued at $224,000 after acquiring an additional 56,277 shares during the period. Institutional investors own 39.70% of the company’s stock.

Holley Price Performance

HLLY opened at $2.84 on Tuesday. Holley has a 12-month low of $2.29 and a 12-month high of $5.22. The business’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $2.96. The company has a market capitalization of $339.63 million, a price-to-earnings ratio of 21.81 and a beta of 1.42. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 target price on shares of Holley in a research note on Wednesday, January 8th. 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

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.