Holley Inc. (NYSE:HLLY) Short Interest Down 7.0% in October

Holley Inc. (NYSE:HLLY) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 2,250,000 shares, a drop of 7.0% from the October 15th total of 2,420,000 shares. Approximately 4.0% of the company’s stock are sold short. Based on an average trading volume of 378,600 shares, the short-interest ratio is currently 5.9 days.

Institutional Trading of Holley

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HLLY. Lazard Asset Management LLC acquired a new position in Holley during the first quarter worth about $43,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Holley during the second quarter worth $42,000. Verition Fund Management LLC purchased a new stake in Holley during the third quarter worth about $35,000. Intech Investment Management LLC purchased a new position in Holley in the 3rd quarter valued at approximately $41,000. Finally, SG Americas Securities LLC purchased a new position in shares of Holley in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on HLLY. Raymond James decreased their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Telsey Advisory Group lowered their target price on Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Truist Financial reduced their price objective on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Finally, Canaccord Genuity Group lowered their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Holley currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Holley Price Performance

Holley stock traded down $0.06 during mid-day trading on Tuesday, reaching $2.60. 5,939 shares of the company’s stock traded hands, compared to its average volume of 355,198. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. Holley has a 12-month low of $2.29 and a 12-month high of $5.23. The stock has a 50 day moving average of $2.88 and a two-hundred day moving average of $3.31. The company has a market cap of $311.48 million, a price-to-earnings ratio of 20.58 and a beta of 1.45.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS. Equities analysts forecast that Holley will post 0.14 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.