Short Interest in Holley Inc. (NYSE:HLLY) Rises By 5.7%

Holley Inc. (NYSE:HLLY) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,040,000 shares, a growth of 5.7% from the November 30th total of 1,930,000 shares. Based on an average daily trading volume, of 423,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

HLLY has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Telsey Advisory Group decreased their target price on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.63.

Holley Stock Performance

NYSE:HLLY opened at $3.02 on Thursday. Holley has a 1 year low of $2.29 and a 1 year high of $5.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. The business has a fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $3.11. The company has a market capitalization of $361.79 million, a P/E ratio of 23.23 and a beta of 1.47.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company’s revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, analysts expect that Holley will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the transaction, the director now directly owns 41,556,961 shares in the company, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HLLY. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the 2nd quarter worth about $42,000. Verition Fund Management LLC purchased a new stake in shares of Holley in the third quarter worth about $35,000. Intech Investment Management LLC bought a new position in shares of Holley in the third quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new position in Holley during the third quarter valued at approximately $52,000. Finally, Virtu Financial LLC bought a new stake in Holley during the 3rd quarter worth approximately $54,000. 39.70% of the stock is owned by institutional investors.

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.