Holley Inc. (NYSE:HLLY) Sees Significant Increase in Short Interest

Holley Inc. (NYSE:HLLY - Get Free Report) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 2,040,000 shares, an increase of 5.7% from the January 15th total of 1,930,000 shares. Based on an average trading volume of 430,200 shares, the days-to-cover ratio is presently 4.7 days. Currently, 3.5% of the company's stock are short sold.

Holley Stock Down 0.6 %

NYSE:HLLY traded down $0.02 on Friday, reaching $2.70. 320,442 shares of the stock traded hands, compared to its average volume of 301,787. The company has a market capitalization of $322.85 million, a price-to-earnings ratio of 20.73 and a beta of 1.42. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. Holley has a 12 month low of $2.29 and a 12 month high of $4.87. The company's fifty day simple moving average is $2.94 and its 200 day simple moving average is $2.94.

Insider Buying and Selling

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares in the company, valued at approximately $124,670,883. This trade represents a 4.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is owned by company insiders.

Institutional Trading of Holley

A number of institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Holley by 6.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company's stock valued at $30,117,000 after acquiring an additional 618,449 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Holley by 33.3% during the 4th quarter. Bamco Inc. NY now owns 4,000,000 shares of the company's stock valued at $12,080,000 after acquiring an additional 1,000,000 shares during the last quarter. Blue Owl Capital Holdings LP boosted its holdings in shares of Holley by 17.3% during the 4th quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company's stock valued at $9,031,000 after acquiring an additional 440,040 shares during the last quarter. Boston Partners purchased a new stake in shares of Holley during the 4th quarter valued at about $4,746,000. Finally, Skylands Capital LLC boosted its holdings in shares of Holley by 4.3% during the 4th quarter. Skylands Capital LLC now owns 1,193,983 shares of the company's stock valued at $3,606,000 after acquiring an additional 49,383 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group restated an "outperform" rating and set a $4.50 price objective on shares of Holley in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $6.95.

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.