Holley Inc. (NYSE:HLLY) Sees Significant Growth in Short Interest

Holley Inc. (NYSE:HLLY) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 2,040,000 shares, a growth of 5.7% from the January 15th total of 1,930,000 shares. Based on an average daily volume of 430,200 shares, the days-to-cover ratio is currently 4.7 days. Approximately 3.5% of the company’s stock are short sold.

Holley Price Performance

Shares of HLLY stock traded down $0.01 on Monday, reaching $2.84. 103,847 shares of the company were exchanged, compared to its average volume of 332,025. Holley has a 1 year low of $2.29 and a 1 year high of $5.22. 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 business has a 50-day moving average price of $2.95 and a 200 day moving average price of $2.96. The company has a market cap of $339.63 million, a price-to-earnings ratio of 21.81 and a beta of 1.42.

Insiders Place Their Bets

In related news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the transaction, the director now directly owns 41,556,961 shares in the company, valued at $124,670,883. The trade was a 4.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Holley

Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in shares of Holley by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after acquiring an additional 3,210 shares during the last quarter. Aigen Investment Management LP lifted its holdings in Holley by 22.1% in the 4th quarter. Aigen Investment Management LP now owns 18,693 shares of the company’s stock valued at $56,000 after purchasing an additional 3,389 shares in the last quarter. SG Americas Securities LLC boosted its stake in Holley by 39.8% during the 4th quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock worth $74,000 after purchasing an additional 7,002 shares during the last quarter. Zacks Investment Management grew its holdings in shares of Holley by 69.5% during the third quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after buying an additional 8,061 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Holley in the fourth quarter valued at about $26,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.50 price target on shares of Holley in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Holley presently has an average rating of “Moderate Buy” and a consensus target price of $6.63.

About Holley

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.