Holley Inc. (NYSE:HLLY) Short Interest Update

Holley Inc. (NYSE:HLLY - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,850,000 shares, a decline of 16.3% from the February 28th total of 2,210,000 shares. Based on an average daily volume of 401,400 shares, the days-to-cover ratio is presently 4.6 days. Currently, 3.1% of the company's stock are sold short.

Holley Stock Down 0.2 %

Shares of HLLY traded down $0.01 during trading hours on Friday, hitting $2.40. 556,580 shares of the company were exchanged, compared to its average volume of 394,380. 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 cap of $287.30 million, a PE ratio of 18.42 and a beta of 1.41. The firm's 50 day moving average is $2.72 and its 200-day moving average is $2.82. Holley has a 52 week low of $2.26 and a 52 week high of $4.54.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 earnings per share 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 business had revenue of $140.05 million during the quarter, compared to analysts' expectations of $137.60 million. During the same period in the previous year, the company earned $0.01 earnings per share. Holley's revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts forecast that Holley will post 0.12 EPS for the current fiscal year.

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Hedge Funds Weigh In On Holley

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC increased its position in Holley by 112.9% in the 4th quarter. Squarepoint Ops LLC now owns 46,636 shares of the company's stock worth $141,000 after buying an additional 24,733 shares during the period. ProShare Advisors LLC bought a new position in Holley during the fourth quarter worth $40,000. Mink Brook Asset Management LLC bought a new position in Holley during the fourth quarter worth $1,666,000. Graham Capital Management L.P. acquired a new position in Holley during the 4th quarter valued at $105,000. Finally, Bridgeway Capital Management LLC boosted its holdings in Holley by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 573,228 shares of the company's stock valued at $1,731,000 after purchasing an additional 12,955 shares during the period. Institutional investors and hedge funds own 39.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HLLY. Telsey Advisory Group reaffirmed an "outperform" rating and set a $4.50 price target on shares of Holley in a research note on Wednesday, March 12th. Raymond James raised their price objective on shares of Holley from $3.00 to $3.50 and gave the company an "outperform" rating in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Holley has an average rating of "Buy" and an average target price of $6.80.

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.