Holley (NYSE:HLLY) Reaches New 52-Week High – What’s Next?

Holley Inc. (NYSE:HLLY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $4.22 and last traded at $4.2150, with a volume of 175554 shares changing hands. The stock had previously closed at $4.08.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James Financial increased their price objective on shares of Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Telsey Advisory Group increased their price target on Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Canaccord Genuity Group boosted their price objective on Holley from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, November 10th. DA Davidson increased their target price on Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Finally, Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Holley Stock Up 2.8%

The firm has a market cap of $505.54 million, a price-to-earnings ratio of -19.07 and a beta of 1.36. The firm’s fifty day moving average is $3.24 and its two-hundred day moving average is $2.82. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.78 and a quick ratio of 1.06.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. Holley had a negative net margin of 4.16% and a positive return on equity of 6.75%. Holley has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Holley Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 14,000,000 shares of Holley stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $2.63, for a total value of $36,820,000.00. Following the transaction, the director owned 26,754,834 shares of the company’s stock, valued at $70,365,213.42. The trade was a 34.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC boosted its stake in shares of Holley by 2.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after acquiring an additional 275,838 shares in the last quarter. Boston Partners lifted its holdings in shares of Holley by 59.2% during the third quarter. Boston Partners now owns 7,652,545 shares of the company’s stock valued at $24,028,000 after purchasing an additional 2,845,009 shares during the last quarter. Wasatch Advisors LP acquired a new position in shares of Holley in the 3rd quarter valued at $18,762,000. Blue Owl Capital Holdings LP increased its stake in Holley by 18.2% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 4,862,361 shares of the company’s stock worth $15,268,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Holley by 3.1% during the third quarter. Vanguard Group Inc. now owns 3,677,058 shares of the company’s stock valued at $11,546,000 after buying an additional 110,170 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

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.