Holley Inc. (NYSE:HLLY) Short Interest Up 14.7% in August

Holley Inc. (NYSE:HLLYGet Rating) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 4,910,000 shares, a growth of 14.7% from the August 15th total of 4,280,000 shares. Currently, 8.4% of the shares of the stock are sold short. Based on an average trading volume of 1,070,000 shares, the short-interest ratio is currently 4.6 days.

Analyst Upgrades and Downgrades

HLLY has been the topic of a number of research analyst reports. Bank of America initiated coverage on Holley in a research report on Wednesday, June 22nd. They issued a “buy” rating and a $13.00 target price on the stock. Truist Financial cut their target price on Holley from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. Imperial Capital initiated coverage on Holley in a research report on Tuesday, August 9th. They issued an “outperform” rating and a $10.00 target price on the stock. Benchmark cut their target price on Holley to $12.00 in a research report on Tuesday, August 9th. Finally, Telsey Advisory Group cut their target price on Holley from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, August 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.11.

Holley Stock Performance

Shares of HLLY stock opened at $5.33 on Friday. The company has a current ratio of 3.53, a quick ratio of 1.16 and a debt-to-equity ratio of 1.66. The firm has a fifty day moving average price of $7.64 and a 200 day moving average price of $10.23. The company has a market cap of $634.91 million, a P/E ratio of 88.83, a PEG ratio of 0.61 and a beta of 0.35. Holley has a 12 month low of $5.24 and a 12 month high of $14.68.

Insider Transactions at Holley

In related news, CFO Dominic Bardos sold 24,578 shares of Holley stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $6.50, for a total transaction of $159,757.00. Following the transaction, the chief financial officer now owns 112,771 shares in the company, valued at $733,011.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Holley news, CFO Dominic Bardos sold 24,578 shares of Holley stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $6.50, for a total transaction of $159,757.00. Following the transaction, the chief financial officer now directly owns 112,771 shares of the company’s stock, valued at $733,011.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas W. Tomlinson purchased 7,500 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was purchased at an average cost of $6.45 per share, with a total value of $48,375.00. Following the purchase, the chief executive officer now owns 260,825 shares in the company, valued at $1,682,321.25. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Holley

Large investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS boosted its stake in Holley by 340.0% in the first quarter. Kornitzer Capital Management Inc. KS now owns 110,000 shares of the company’s stock valued at $1,530,000 after acquiring an additional 85,000 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of Holley in the fourth quarter valued at about $4,060,000. Parafestas Anastasios purchased a new stake in shares of Holley in the first quarter valued at about $2,782,000. Swiss National Bank raised its holdings in shares of Holley by 5.4% in the first quarter. Swiss National Bank now owns 95,800 shares of the company’s stock valued at $1,333,000 after buying an additional 4,900 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of Holley in the first quarter valued at about $233,000.

About Holley

(Get Rating)

Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.

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