Short Interest in Holley Inc. (NYSE:HLLY) Rises By 5.7%

Holley Inc. (NYSE:HLLY) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,040,000 shares, an increase of 5.7% from the November 30th total of 1,930,000 shares. Based on an average trading volume of 423,000 shares, the days-to-cover ratio is currently 4.8 days. Approximately 3.5% of the company’s shares are sold short.

Holley Stock Performance

NYSE:HLLY opened at $3.02 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. Holley has a twelve month low of $2.29 and a twelve month high of $5.23. The company has a fifty day moving average of $2.80 and a 200-day moving average of $3.11. The firm has a market capitalization of $361.79 million, a P/E ratio of 23.23 and a beta of 1.47.

Holley (NYSE:HLLY) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. As a group, sell-side analysts anticipate that Holley will post 0.12 EPS for the current year.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the sale, the director now owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC lifted its holdings in shares of Holley by 1.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after purchasing an additional 5,431 shares in the last quarter. American Century Companies Inc. raised its holdings in Holley by 23.3% during the second quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after buying an additional 12,186 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after buying an additional 334,940 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Holley by 665.2% during the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock valued at $471,000 after buying an additional 114,314 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Holley during the second quarter valued at about $42,000. Institutional investors own 39.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group lowered their target price on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

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.