Holley Inc. (NYSE:HLLY – Get Rating) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 4,890,000 shares, a decline of 8.9% from the September 30th total of 5,370,000 shares. Currently, 8.3% of the shares of the stock are sold short. Based on an average daily volume of 987,600 shares, the short-interest ratio is presently 5.0 days.
Insider Activity
In other news, CFO Dominic Bardos sold 24,578 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $733,011.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Holley news, CEO Thomas W. Tomlinson acquired 7,500 shares of the stock in a transaction dated Tuesday, August 16th. The shares were bought at an average cost of $6.45 per share, for a total transaction of $48,375.00. Following the completion of the acquisition, the chief executive officer now directly owns 260,825 shares of the company’s stock, valued at $1,682,321.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dominic Bardos sold 24,578 shares of Holley stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $6.50, for a total value of $159,757.00. Following the transaction, the chief financial officer now owns 112,771 shares of the company’s stock, valued at approximately $733,011.50. The disclosure for this sale can be found here.
Hedge Funds Weigh In On Holley
A number of hedge funds have recently bought and sold shares of HLLY. Janney Montgomery Scott LLC purchased a new position in Holley in the third quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Holley during the 2nd quarter valued at about $62,000. Strs Ohio bought a new stake in Holley in the 2nd quarter worth approximately $126,000. Precision Wealth Strategies LLC bought a new stake in Holley in the third quarter worth $132,000. Finally, Citigroup Inc. raised its holdings in Holley by 1,196.2% during the 1st quarter. Citigroup Inc. now owns 9,877 shares of the company’s stock valued at $137,000 after buying an additional 9,115 shares during the last quarter.
Holley Trading Down 2.7 %
Shares of HLLY stock traded down $0.11 during trading hours on Friday, hitting $4.02. 830,109 shares of the company were exchanged, compared to its average volume of 539,094. The company has a 50 day simple moving average of $4.86 and a two-hundred day simple moving average of $8.21. The firm has a market cap of $478.86 million, a P/E ratio of 67.00, a P/E/G ratio of 0.46 and a beta of 0.74. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.16 and a current ratio of 3.53. Holley has a fifty-two week low of $3.54 and a fifty-two week high of $14.68.
Holley (NYSE:HLLY – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Holley had a net margin of 1.29% and a return on equity of 16.95%. The firm had revenue of $179.42 million during the quarter, compared to analyst estimates of $179.32 million. Equities analysts anticipate that Holley will post 0.41 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. Truist Financial reduced their price objective on shares of Holley from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, October 5th. JPMorgan Chase & Co. cut shares of Holley from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $9.00 in a research report on Friday, July 29th. Jefferies Financial Group downgraded shares of Holley from a “buy” rating to a “hold” rating and lowered their price target for the stock from $18.00 to $10.00 in a report on Friday, July 29th. DA Davidson reduced their price objective on Holley to $9.00 in a research report on Monday, August 15th. Finally, Telsey Advisory Group dropped their target price on Holley from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.89.
About Holley
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.