Holley Inc. (NYSE:HLLY) Sees Significant Decrease in Short Interest

Holley Inc. (NYSE:HLLY) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,390,000 shares, a drop of 6.3% from the June 30th total of 2,550,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average trading volume of 357,700 shares, the days-to-cover ratio is currently 6.7 days.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HLLY shares. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Tuesday, June 18th. Canaccord Genuity Group reissued a “buy” rating and set a $8.00 price objective on shares of Holley in a report on Friday, June 21st. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.50 target price on shares of Holley in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.47.

Insider Activity

In related news, Chairman Matthew E. Rubel acquired 14,493 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $3.39 per share, for a total transaction of $49,131.27. Following the completion of the transaction, the chairman now owns 169,979 shares in the company, valued at $576,228.81. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Holley by 75.7% in the fourth quarter. SG Americas Securities LLC now owns 28,577 shares of the company’s stock worth $139,000 after buying an additional 12,309 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Holley by 3.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company’s stock valued at $20,131,000 after acquiring an additional 121,251 shares during the last quarter. Skylands Capital LLC boosted its holdings in shares of Holley by 7.2% during the fourth quarter. Skylands Capital LLC now owns 589,400 shares of the company’s stock worth $2,870,000 after purchasing an additional 39,600 shares during the period. Trexquant Investment LP boosted its holdings in shares of Holley by 7.2% during the fourth quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock worth $516,000 after purchasing an additional 7,151 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of Holley by 410.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,516 shares of the company’s stock worth $66,000 after purchasing an additional 10,867 shares during the last quarter. Institutional investors own 39.70% of the company’s stock.

Holley Trading Up 1.6 %

HLLY stock traded up $0.06 during trading on Wednesday, hitting $3.91. 39,472 shares of the company traded hands, compared to its average volume of 325,705. The company has a 50-day moving average of $3.60 and a 200-day moving average of $4.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85. Holley has a 1 year low of $3.16 and a 1 year high of $8.06. The firm has a market capitalization of $466.50 million, a PE ratio of 24.10 and a beta of 1.47.

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.