Holley Inc. (NYSE:HLLY) Short Interest Down 16.3% in March

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on HLLY shares. Telsey Advisory Group restated an “outperform” rating and issued a $4.50 price objective on shares of Holley in a report on Wednesday, March 12th. Raymond James increased their price objective on shares of Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday, March 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $6.80.

Hedge Funds Weigh In On Holley

Institutional investors and hedge funds have recently modified their holdings of the business. Atria Wealth Solutions Inc. acquired a new stake in Holley in the fourth quarter valued at approximately $30,000. First Eagle Investment Management LLC grew its stake in Holley by 158.9% in the 4th quarter. First Eagle Investment Management LLC now owns 211,087 shares of the company’s stock valued at $637,000 after acquiring an additional 129,569 shares during the period. Verition Fund Management LLC purchased a new stake in Holley in the 3rd quarter worth $35,000. JPMorgan Chase & Co. raised its position in Holley by 102.1% during the third quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock worth $424,000 after acquiring an additional 72,641 shares during the period. Finally, Boston Partners purchased a new position in Holley during the fourth quarter valued at $4,746,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

Holley stock traded down $0.16 during midday trading on Thursday, hitting $2.42. 362,017 shares of the company were exchanged, compared to its average volume of 391,201. The business has a fifty day simple moving average of $2.75 and a two-hundred day simple moving average of $2.83. 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 firm has a market capitalization of $289.70 million, a PE ratio of 18.58 and a beta of 1.44. Holley has a fifty-two week low of $2.26 and a fifty-two week high of $4.58.

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