Holley Inc. (NYSE:HLLY) Short Interest Down 6.6% in September

Holley Inc. (NYSE:HLLY) was the target of a large decline in short interest in September. As of September 30th, there was short interest totalling 2,530,000 shares, a decline of 6.6% from the September 15th total of 2,710,000 shares. Based on an average daily volume of 428,600 shares, the days-to-cover ratio is currently 5.9 days. Approximately 4.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $5.50 price objective on shares of Holley in a report on Monday, September 9th. Truist Financial cut their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Raymond James cut their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Finally, Canaccord Genuity Group reduced their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.54.

Hedge Funds Weigh In On Holley

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in shares of Holley by 3.3% in the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after buying an additional 4,413 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after buying an additional 4,924 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Holley by 1.3% in the first quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock worth $1,801,000 after buying an additional 5,000 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Holley by 1.8% in the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after buying an additional 5,431 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Holley in the first quarter worth about $43,000. Institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

NYSE:HLLY traded down $0.04 on Thursday, reaching $2.90. 83,790 shares of the company’s stock were exchanged, compared to its average volume of 349,619. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19. The firm has a market cap of $346.00 million, a price-to-earnings ratio of 18.38 and a beta of 1.43. Holley has a 52 week low of $2.69 and a 52 week high of $5.23. The stock has a fifty day simple moving average of $3.06 and a 200-day simple moving average of $3.55.

Holley (NYSE:HLLY) last issued its earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $169.50 million during the quarter, compared to analyst estimates of $170.40 million. Holley had a net margin of 3.56% and a return on equity of 3.51%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. As a group, sell-side analysts predict that Holley will post 0.19 earnings per share for the current year.

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.