Short Interest in Holley Inc. (NYSE:HLLY) Drops By 8.1%

Holley Inc. (NYSE:HLLY) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,930,000 shares, a drop of 8.1% from the November 15th total of 2,100,000 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 389,600 shares, the short-interest ratio is currently 5.0 days.

Analyst Upgrades and Downgrades

Several research analysts have commented on HLLY shares. Telsey Advisory Group decreased their target price on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday, November 11th. Benchmark reissued a “buy” rating and set a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.63.

Institutional Trading of Holley

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the 2nd quarter worth $42,000. Verition Fund Management LLC bought a new position in shares of Holley during the 3rd quarter worth about $35,000. Intech Investment Management LLC bought a new stake in shares of Holley in the third quarter valued at about $41,000. SG Americas Securities LLC bought a new stake in shares of Holley in the 3rd quarter worth approximately $52,000. Finally, Virtu Financial LLC bought a new stake in shares of Holley in the 3rd quarter worth approximately $54,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Stock Down 3.1 %

HLLY stock opened at $2.77 on Monday. The firm has a market cap of $331.84 million, a PE ratio of 21.31 and a beta of 1.47. Holley has a 12 month low of $2.29 and a 12 month high of $5.23. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $2.79 and a 200 day simple moving average of $3.17.

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