Holley (NYSE:HLLY) Trading 0.4% Higher – Here’s What Happened

Holley Inc. (NYSE:HLLY) traded up 0.4% on Friday . The company traded as high as $4.21 and last traded at $4.1480. 436,476 shares traded hands during trading, a decline of 40% from the average session volume of 727,347 shares. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

HLLY has been the topic of a number of recent analyst reports. Telsey Advisory Group upped their target price on shares of Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. DA Davidson increased their price objective on shares of Holley from $3.00 to $4.50 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Canaccord Genuity Group reissued a “buy” rating on shares of Holley in a research report on Tuesday, December 23rd. Benchmark upped their price target on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Holley in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.50.

Holley Stock Performance

The company has a current ratio of 2.78, a quick ratio of 1.06 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $499.88 million, a price-to-earnings ratio of -18.85 and a beta of 1.31. The stock’s fifty day simple moving average is $3.87 and its 200-day simple moving average is $3.23.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $138.37 million during the quarter, compared to analyst estimates of $132.36 million. Holley had a positive return on equity of 6.75% and a negative net margin of 4.16%. Analysts predict that Holley Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Holley

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC acquired a new stake in Holley in the third quarter valued at approximately $34,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Holley in the 3rd quarter valued at approximately $38,000. Cerity Partners LLC acquired a new stake in shares of Holley in the 2nd quarter valued at $25,000. Captrust Financial Advisors purchased a new stake in shares of Holley during the 2nd quarter worth $44,000. Finally, Brevan Howard Capital Management LP grew its stake in shares of Holley by 103.4% during the second quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after purchasing an additional 11,494 shares in the last quarter. Hedge funds and other 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.