Short Interest in Holley Inc. (NYSE:HLLY) Declines By 8.7%

Holley Inc. (NYSE:HLLY - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,090,000 shares, a decline of 8.7% from the March 15th total of 2,290,000 shares. Based on an average daily trading volume, of 298,100 shares, the days-to-cover ratio is currently 7.0 days. Currently, 4.0% of the company's shares are short sold.

Insider Transactions at Holley

In other news, Director Graham Clempson acquired 59,076 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the acquisition, the director now owns 63,851 shares in the company, valued at $266,897.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HLLY. Wasatch Advisors Inc. lifted its holdings in shares of Holley by 40.6% in the first quarter. Wasatch Advisors Inc. now owns 14,820,059 shares of the company's stock worth $206,147,000 after acquiring an additional 4,280,253 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Holley by 38.4% in the third quarter. Vanguard Group Inc. now owns 2,889,896 shares of the company's stock worth $11,704,000 after acquiring an additional 801,808 shares during the last quarter. State Street Corp lifted its holdings in shares of Holley by 360.5% in the second quarter. State Street Corp now owns 727,121 shares of the company's stock worth $7,635,000 after acquiring an additional 569,220 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Holley by 11.1% in the third quarter. Bamco Inc. NY now owns 5,000,000 shares of the company's stock worth $24,950,000 after acquiring an additional 500,000 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Holley by 13.2% in the 2nd quarter. BlackRock Inc. now owns 3,472,901 shares of the company's stock valued at $14,204,000 after buying an additional 405,570 shares during the last quarter. Institutional investors own 39.70% of the company's stock.

Wall Street Analysts Forecast Growth

HLLY has been the topic of a number of research reports. Canaccord Genuity Group cut their price target on shares of Holley from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Truist Financial cut their price target on shares of Holley from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Benchmark reaffirmed a "buy" rating and issued a $12.00 price target on shares of Holley in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered shares of Holley from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $6.50 to $5.00 in a research report on Tuesday, February 20th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $9.00 price objective on shares of Holley in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.75.

Holley Stock Performance

Shares of HLLY stock traded down $0.06 on Monday, hitting $4.15. The company's stock had a trading volume of 194,178 shares, compared to its average volume of 292,847. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.12 and a current ratio of 3.17. The stock's 50 day moving average is $4.47 and its 200-day moving average is $4.50. Holley has a fifty-two week low of $2.08 and a fifty-two week high of $8.06. The company has a market capitalization of $493.02 million, a PE ratio of 24.77 and a beta of 1.52.

Holley (NYSE:HLLY - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $155.70 million for the quarter, compared to the consensus estimate of $153.26 million. Holley had a net margin of 2.91% and a return on equity of 5.77%. Holley's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) earnings per share. Equities research analysts expect that Holley will post 0.33 earnings per share for the current fiscal year.

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.

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