Holley Inc. (NYSE:HLLY) Sees Large Growth in Short Interest

Holley Inc. (NYSE:HLLY) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 2,040,000 shares, a growth of 5.7% from the November 30th total of 1,930,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily volume of 423,000 shares, the days-to-cover ratio is currently 4.8 days.

Insider Buying and Selling

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the sale, the director now owns 41,556,961 shares in the company, valued at $124,670,883. The trade was a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Holley

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Holley in the second quarter worth approximately $42,000. Verition Fund Management LLC bought a new position in Holley in the 3rd quarter valued at $35,000. Intech Investment Management LLC bought a new position in Holley in the 3rd quarter valued at $41,000. SG Americas Securities LLC purchased a new stake in Holley in the third quarter worth $52,000. Finally, Virtu Financial LLC purchased a new stake in shares of Holley during the third quarter valued at $54,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group decreased their target price on Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Holley Trading Down 0.3 %

HLLY opened at $3.01 on Friday. 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 12 month low of $2.29 and a 12 month high of $5.23. The firm has a market cap of $360.59 million, a P/E ratio of 23.15 and a beta of 1.47.

Holley (NYSE:HLLY) last announced its earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a return on equity of 2.59% and a net margin of 2.55%. The company had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same quarter last year, the firm posted $0.03 EPS. Holley’s revenue for the quarter was down 14.4% compared to the same quarter last year. As a group, research analysts forecast that Holley will post 0.12 EPS for the current year.

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.