Short Interest in Holley Inc. (NYSE:HLLY) Decreases By 7.0%

Holley Inc. (NYSE:HLLY - Get Free Report) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 2,250,000 shares, a decline of 7.0% from the October 15th total of 2,420,000 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 378,600 shares, the days-to-cover ratio is presently 5.9 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of Holley from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Raymond James decreased their target price on shares of Holley from $5.25 to $4.25 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Truist Financial reduced their price target on shares of Holley from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Telsey Advisory Group dropped their price objective on shares of Holley from $5.50 to $4.50 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Finally, Benchmark reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Holley in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Holley presently has an average rating of "Moderate Buy" and a consensus price target of $6.63.

Institutional Investors Weigh In On Holley

Institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new position in shares of Holley in the 3rd quarter valued at about $35,000. Intech Investment Management LLC acquired a new position in shares of Holley during the third quarter worth approximately $41,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Holley during the second quarter worth approximately $42,000. Lazard Asset Management LLC acquired a new position in shares of Holley during the first quarter worth approximately $43,000. Finally, SG Americas Securities LLC acquired a new position in shares of Holley during the third quarter worth approximately $52,000. Institutional investors and hedge funds own 39.70% of the company's stock.

Holley Stock Performance

Shares of HLLY traded down $0.08 during midday trading on Monday, hitting $2.68. 245,688 shares of the stock traded hands, compared to its average volume of 356,304. Holley has a 1-year low of $2.29 and a 1-year high of $5.23. The firm has a market capitalization of $321.01 million, a PE ratio of 21.00 and a beta of 1.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.19 and a current ratio of 2.93. The business's 50 day moving average price is $2.89 and its two-hundred day moving average price is $3.32.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm had revenue of $134.00 million for the quarter, compared to analyst estimates of $142.53 million. During the same period last year, the firm posted $0.03 EPS. The business's revenue was down 14.4% compared to the same quarter last year. Equities research analysts predict that Holley will post 0.14 EPS for the current fiscal 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.