Short Interest in Holley Inc. (NYSE:HLLY) Increases By 20.8%

Holley Inc. (NYSE:HLLY) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,773,222 shares, a growth of 20.8% from the February 26th total of 1,467,448 shares. Based on an average trading volume of 1,194,074 shares, the short-interest ratio is presently 1.5 days. Currently, 0.8% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HLLY shares. Telsey Advisory Group reissued an “outperform” rating and issued a $5.00 target price on shares of Holley in a report on Thursday, March 5th. Weiss Ratings upgraded shares of Holley from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, March 23rd. DA Davidson set a $4.50 price target on Holley in a report on Thursday, March 5th. Finally, Canaccord Genuity Group lifted their target price on shares of Holley from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Holley currently has an average rating of “Moderate Buy” and a consensus target price of $4.67.

Holley Stock Up 2.1%

Shares of NYSE:HLLY traded up $0.07 during midday trading on Wednesday, hitting $3.14. The stock had a trading volume of 448,961 shares, compared to its average volume of 858,464. The company has a market cap of $379.15 million, a P/E ratio of 20.90 and a beta of 1.32. The business’s 50-day simple moving average is $3.71 and its 200-day simple moving average is $3.67. Holley has a 12 month low of $1.60 and a 12 month high of $4.48. The company has a quick ratio of 0.96, a current ratio of 2.75 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Holley had a net margin of 3.13% and a return on equity of 4.84%. The business had revenue of $155.44 million during the quarter, compared to the consensus estimate of $142.76 million. On average, sell-side analysts forecast that Holley will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of Holley

A number of hedge funds and other institutional investors have recently modified their holdings of HLLY. Cerity Partners LLC acquired a new position in Holley during the 2nd quarter worth about $25,000. Schonfeld Strategic Advisors LLC bought a new stake in Holley in the 3rd quarter valued at about $34,000. State of Alaska Department of Revenue acquired a new position in shares of Holley during the fourth quarter worth approximately $35,000. Sherbrooke Park Advisers LLC acquired a new position in Holley during the third quarter worth $38,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Holley in the 2nd quarter worth about $44,000. Institutional investors own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.