Short Interest in Holley Inc. (NYSE:HLLY) Increases By 20.8%

Holley Inc. (NYSE:HLLY) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 1,773,222 shares, a growth of 20.8% from the February 26th total of 1,467,448 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,194,074 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

Several brokerages have commented on HLLY. Weiss Ratings raised Holley from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, March 23rd. DA Davidson set a $4.50 price target on shares of Holley in a research note on Thursday, March 5th. Canaccord Genuity Group lifted their price target on shares of Holley from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $5.00 price objective on shares of Holley in a research report on Thursday, March 5th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.67.

Hedge Funds Weigh In On Holley

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC bought a new stake in Holley in the second quarter valued at approximately $25,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Holley in the 3rd quarter worth approximately $34,000. State of Alaska Department of Revenue bought a new stake in shares of Holley in the 4th quarter valued at $35,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Holley during the third quarter worth $38,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Holley during the second quarter worth $44,000. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Price Performance

HLLY stock opened at $3.14 on Thursday. The company has a market capitalization of $379.63 million, a P/E ratio of 20.93 and a beta of 1.42. The company has a fifty day moving average price of $3.69 and a 200-day moving average price of $3.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.96 and a current ratio of 2.75. Holley has a 52-week low of $1.60 and a 52-week high of $4.48.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $155.44 million during the quarter, compared to analyst estimates of $142.76 million. Holley had a net margin of 3.13% and a return on equity of 4.84%. As a group, equities analysts expect that Holley will post 0.12 EPS for the current year.

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.