Short Interest in Holley Inc. (NYSE:HLLY) Drops By 6.3%

Holley Inc. (NYSE:HLLY – Get Rating) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 2,540,000 shares, a drop of 6.3% from the February 13th total of 2,710,000 shares. Based on an average daily volume of 806,300 shares, the short-interest ratio is currently 3.2 days. Approximately 4.4% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. DA Davidson downgraded Holley from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.00 to $2.00 in a research report on Tuesday, February 28th. Benchmark dropped their price target on Holley from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, February 7th. Truist Financial dropped their price target on Holley to $6.00 in a research report on Thursday, November 17th. Telsey Advisory Group reissued a “market perform” rating and set a $3.00 price target on shares of Holley in a research report on Friday, March 10th. Finally, Raymond James raised their price target on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Friday, March 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.94.

Institutional Investors Weigh In On Holley

Several hedge funds have recently made changes to their positions in HLLY. Wasatch Advisors Inc. boosted its holdings in Holley by 40.6% in the first quarter. Wasatch Advisors Inc. now owns 14,820,059 shares of the company’s stock valued at $206,147,000 after acquiring an additional 4,280,253 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Holley by 111.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,322,712 shares of the company’s stock valued at $58,007,000 after acquiring an additional 7,543,324 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Holley by 25.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,343,471 shares of the company’s stock valued at $9,208,000 after acquiring an additional 886,319 shares during the last quarter. BlackRock Inc. boosted its holdings in Holley by 7.0% in the third quarter. BlackRock Inc. now owns 3,163,354 shares of the company’s stock valued at $12,811,000 after acquiring an additional 206,489 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Holley by 38.4% in the third quarter. Vanguard Group Inc. now owns 2,889,896 shares of the company’s stock valued at $11,704,000 after acquiring an additional 801,808 shares during the last quarter. Institutional investors and hedge funds own 48.43% of the company’s stock.

Holley Price Performance

HLLY stock opened at $2.93 on Wednesday. Holley has a 52-week low of $1.88 and a 52-week high of $14.68. The stock’s fifty day simple moving average is $2.56 and its 200-day simple moving average is $3.32. The company has a quick ratio of 0.98, a current ratio of 3.37 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $349.02 million, a price-to-earnings ratio of 4.58 and a beta of 1.15.

Holley (NYSE:HLLY – Get Rating) last posted its quarterly earnings data on Thursday, March 9th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). Holley had a return on equity of 2.08% and a net margin of 10.72%. The business had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.12 million. During the same quarter last year, the business earned $0.08 EPS. Holley’s revenue for the quarter was down 14.2% compared to the same quarter last year. Equities research analysts expect that Holley will post 0.16 EPS for the current year.

Holley Company Profile

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Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.