Holley Inc. (NYSE:HLLY – Get Rating) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,590,000 shares, a drop of 16.2% from the November 15th total of 3,090,000 shares. Based on an average trading volume of 747,100 shares, the days-to-cover ratio is presently 3.5 days. Currently, 4.4% of the company's stock are sold short.
Hedge Funds Weigh In On Holley
Several institutional investors and hedge funds have recently modified their holdings of the stock. Cruiser Capital Advisors LLC raised its position in shares of Holley by 200.0% in the second quarter. Cruiser Capital Advisors LLC now owns 15,000 shares of the company's stock worth $158,000 after acquiring an additional 10,000 shares during the period. Parafestas Anastasios purchased a new stake in shares of Holley in the first quarter valued at approximately $2,782,000. Swiss National Bank increased its position in shares of Holley by 5.4% in the first quarter. Swiss National Bank now owns 95,800 shares of the company's stock valued at $1,333,000 after buying an additional 4,900 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Holley by 25.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,344,258 shares of the company's stock worth $35,113,000 after buying an additional 677,065 shares during the period. Finally, Skylands Capital LLC grew its stake in Holley by 20.4% in the 2nd quarter. Skylands Capital LLC now owns 402,200 shares of the company's stock valued at $4,223,000 after acquiring an additional 68,097 shares during the period.
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Holley Stock Performance
Shares of HLLY stock traded down $0.02 during trading hours on Friday, hitting $2.24. The company's stock had a trading volume of 886,686 shares, compared to its average volume of 659,370. The stock has a market cap of $266.83 million, a PE ratio of 3.67, a price-to-earnings-growth ratio of 0.53 and a beta of 0.45. Holley has a 12-month low of $2.14 and a 12-month high of $14.68. The company has a 50 day moving average of $3.25 and a 200 day moving average of $6.34. The company has a current ratio of 3.37, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52.
Analyst Ratings Changes
A number of brokerages have recently issued reports on HLLY. Benchmark cut their price objective on shares of Holley to $8.00 in a research report on Thursday, November 17th. Raymond James reduced their target price on Holley from $9.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 15th. Truist Financial lowered their price target on Holley to $6.00 in a report on Thursday, November 17th. Telsey Advisory Group cut their price objective on shares of Holley from $7.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, December 13th. Finally, DA Davidson decreased their price objective on shares of Holley from $9.00 to $5.00 in a research report on Tuesday, November 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.89.
Holley Company Profile
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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.
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