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

Holley Inc. (NYSE:HLLY) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,850,000 shares, a decline of 16.3% from the February 28th total of 2,210,000 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 401,400 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Investors Weigh In On Holley

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bamco Inc. NY increased its position in shares of Holley by 33.3% during the fourth quarter. Bamco Inc. NY now owns 4,000,000 shares of the company’s stock worth $12,080,000 after purchasing an additional 1,000,000 shares in the last quarter. Blue Owl Capital Holdings LP increased its position in Holley by 17.3% during the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company’s stock worth $9,031,000 after buying an additional 440,040 shares during the period. Boston Partners acquired a new position in Holley during the fourth quarter worth approximately $4,746,000. Skylands Capital LLC lifted its stake in Holley by 4.3% in the fourth quarter. Skylands Capital LLC now owns 1,193,983 shares of the company’s stock valued at $3,606,000 after buying an additional 49,383 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Holley by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,045 shares of the company’s stock worth $3,564,000 after acquiring an additional 104,071 shares during the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HLLY. Telsey Advisory Group reissued an “outperform” rating and issued a $4.50 target price on shares of Holley in a research note on Wednesday, March 12th. Raymond James lifted their price objective on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Holley presently has an average rating of “Buy” and an average target price of $6.80.

Holley Stock Down 6.0 %

Shares of HLLY traded down $0.16 during midday trading on Thursday, hitting $2.42. The company had a trading volume of 362,017 shares, compared to its average volume of 391,201. Holley has a 1 year low of $2.26 and a 1 year high of $4.58. The firm has a market capitalization of $289.70 million, a P/E ratio of 18.58 and a beta of 1.44. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The company’s 50-day simple moving average is $2.75 and its 200-day simple moving average is $2.83.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm had revenue of $140.05 million during the quarter, compared to the consensus estimate of $137.60 million. During the same period in the prior year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Holley will post 0.12 EPS 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.