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

Holley Inc. (NYSE:HLLY) was the target of a significant decrease in short interest during the month of 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 daily volume of 401,400 shares, the short-interest ratio is currently 4.6 days. Currently, 3.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Institutional Trading of Holley

A number of institutional investors have recently bought and sold shares of the company. Boston Partners bought a new stake in shares of Holley in the 4th quarter valued at approximately $4,746,000. Bamco Inc. NY lifted its stake in shares of Holley by 33.3% in the 4th quarter. Bamco Inc. NY now owns 4,000,000 shares of the company’s stock valued at $12,080,000 after purchasing an additional 1,000,000 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Holley by 12,719.0% in the fourth quarter. Russell Investments Group Ltd. now owns 819,136 shares of the company’s stock worth $2,474,000 after purchasing an additional 812,746 shares in the last quarter. Mink Brook Asset Management LLC acquired a new position in Holley during the fourth quarter worth $1,666,000. Finally, Blue Owl Capital Holdings LP raised its holdings in Holley by 17.3% during the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company’s stock valued at $9,031,000 after buying an additional 440,040 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Stock Up 0.4 %

Shares of NYSE HLLY traded up $0.01 during mid-day trading on Wednesday, reaching $2.58. The company had a trading volume of 260,071 shares, compared to its average volume of 391,262. 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 company has a market capitalization of $309.49 million, a price-to-earnings ratio of 19.85 and a beta of 1.44. The stock has a fifty day moving average of $2.76 and a two-hundred day moving average of $2.83. Holley has a 12-month low of $2.26 and a 12-month high of $4.58.

Holley (NYSE:HLLY) last released its 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. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $140.05 million during the quarter, compared to the consensus estimate of $137.60 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue was down 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Holley will post 0.12 EPS for the current year.

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.