Short Interest in Holley Inc. (NYSE:HLLY) Increases By 5.7%

Holley Inc. (NYSE:HLLY - Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 2,040,000 shares, an increase of 5.7% from the November 30th total of 1,930,000 shares. Based on an average daily trading volume, of 423,000 shares, the short-interest ratio is presently 4.8 days. Approximately 3.5% of the company's shares are sold short.

Analysts Set New Price Targets

Several equities research analysts recently commented on HLLY shares. Telsey Advisory Group dropped their target price on Holley from $5.50 to $4.50 and set an "outperform" rating on the stock in a report on Monday, November 11th. Benchmark reiterated a "buy" rating and set a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $6.63.

Holley Stock Up 0.3 %

NYSE HLLY traded up $0.01 on Wednesday, hitting $3.02. 284,630 shares of the stock traded hands, compared to its average volume of 368,540. The company has a market capitalization of $361.79 million, a P/E ratio of 23.23 and a beta of 1.47. The stock has a 50-day moving average of $2.80 and a 200 day moving average of $3.11. 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 twelve month low of $2.29 and a twelve month high of $5.23.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings data 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 return on equity of 2.59% and a net margin of 2.55%. The firm had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. During the same quarter last year, the business earned $0.03 earnings per share. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, analysts expect that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $3.00, for a total value 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 represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Holley

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its stake in Holley by 6.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company's stock worth $30,117,000 after buying an additional 618,449 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company's stock worth $3,357,000 after acquiring an additional 55,641 shares during the period. Dimensional Fund Advisors LP lifted its position in Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company's stock valued at $3,491,000 after purchasing an additional 334,940 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Holley by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company's stock valued at $1,308,000 after purchasing an additional 43,053 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its position in Holley by 1.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company's stock worth $1,104,000 after purchasing an additional 5,431 shares during the last quarter. Institutional investors own 39.70% of the company's stock.

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.