Holley Inc. (NYSE:HLLY) Short Interest Down 8.7% in March

Holley Inc. (NYSE:HLLY) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,090,000 shares, a decline of 8.7% from the March 15th total of 2,290,000 shares. Based on an average daily volume of 298,100 shares, the short-interest ratio is currently 7.0 days. Currently, 4.0% of the shares of the company are sold short.

Insider Buying and Selling at Holley

In other news, Director Graham Clempson purchased 59,076 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the purchase, the director now owns 63,851 shares of the company’s stock, valued at $266,897.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Holley

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Holley by 132.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,061 shares of the company’s stock worth $25,000 after purchasing an additional 3,457 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Holley in the 1st quarter worth about $28,000. Barclays PLC boosted its position in Holley by 533.4% during the 4th quarter. Barclays PLC now owns 13,808 shares of the company’s stock worth $29,000 after acquiring an additional 11,628 shares during the period. Cibc World Market Inc. acquired a new stake in Holley during the 2nd quarter worth about $41,000. Finally, Tower Research Capital LLC TRC grew its stake in Holley by 148.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,693 shares of the company’s stock valued at $48,000 after acquiring an additional 6,978 shares in the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Holley in a report on Thursday, March 28th. Telsey Advisory Group reissued an “outperform” rating and set a $9.00 target price on shares of Holley in a report on Thursday, February 29th. Truist Financial dropped their price objective on Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut Holley from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $6.50 to $5.00 in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Holley Price Performance

Shares of NYSE HLLY traded down $0.01 during mid-day trading on Tuesday, reaching $4.15. The company had a trading volume of 216,534 shares, compared to its average volume of 291,800. The company has a 50-day moving average price of $4.44 and a two-hundred day moving average price of $4.48. The stock has a market cap of $492.43 million, a PE ratio of 24.38 and a beta of 1.52. The company has a current ratio of 3.17, a quick ratio of 1.12 and a debt-to-equity ratio of 1.31. Holley has a 1-year low of $2.08 and a 1-year high of $8.06.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Holley had a return on equity of 5.77% and a net margin of 2.91%. The firm had revenue of $155.70 million for the quarter, compared to analysts’ expectations of $153.26 million. During the same quarter last year, the business posted ($0.19) EPS. Holley’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Holley will post 0.33 earnings per share for the current 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.