Short Interest in Holley Inc. (NYSE:HLLY) Rises By 20.8%

Key Points

• Short interest in Holley (NYSE:HLLY) rose 20.8% in March to 1,773,222 shares, equal to about 0.8% of shares outstanding and a days-to-cover ratio of roughly 1.5 days.
• Holley reported Q results (posted March 4) with EPS of $0.04, missing consensus by $0.05 while revenue of $155.44M topped estimates; analysts have a consensus Moderate Buy rating and an average price target of $4.67.
• Institutions and hedge funds own 39.7% of the stock; shares traded up about 3.5% to $3.09 on elevated volume, with a market cap near $373M and a 52-week range of $1.60–$4.48.

Holley Inc. (NYSE:HLLY - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,773,222 shares, a growth of 20.8% from the February 26th total of 1,467,448 shares. Currently, 0.8% of the company's shares are short sold. Based on an average daily volume of 1,194,074 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Holley

Several hedge funds have recently bought and sold shares of HLLY. Deutsche Bank AG grew its holdings in shares of Holley by 7.2% in the 4th quarter. Deutsche Bank AG now owns 48,294 shares of the company's stock valued at $199,000 after buying an additional 3,251 shares during the period. ProShare Advisors LLC raised its stake in Holley by 37.1% during the 4th quarter. ProShare Advisors LLC now owns 13,961 shares of the company's stock worth $58,000 after buying an additional 3,777 shares during the period. State Street Corp grew its stake in Holley by 0.3% in the fourth quarter. State Street Corp now owns 1,141,534 shares of the company's stock valued at $4,715,000 after acquiring an additional 3,788 shares during the period. Verition Fund Management LLC increased its holdings in shares of Holley by 10.7% in the fourth quarter. Verition Fund Management LLC now owns 47,831 shares of the company's stock worth $198,000 after acquiring an additional 4,638 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Holley by 16.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company's stock worth $65,000 after acquiring an additional 4,661 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Trading Up 3.5%

NYSE:HLLY traded up $0.11 during mid-day trading on Tuesday, hitting $3.09. The company had a trading volume of 1,066,292 shares, compared to its average volume of 866,065. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.96 and a current ratio of 2.75. Holley has a fifty-two week low of $1.60 and a fifty-two week high of $4.48. The firm has a market cap of $373.10 million, a P/E ratio of 20.57 and a beta of 1.32. The business's fifty day moving average is $3.73 and its two-hundred day moving average is $3.67.

Holley (NYSE:HLLY - Get Free Report) last posted its earnings results on Wednesday, March 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $155.44 million for the quarter, compared to analyst estimates of $142.76 million. Holley had a return on equity of 4.84% and a net margin of 3.13%. As a group, research analysts expect that Holley will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Holley from a "sell (d)" rating to a "hold (c)" rating in a research note on Monday, March 23rd. DA Davidson set a $4.50 price target on shares of Holley in a research note on Thursday, March 5th. Canaccord Genuity Group raised their price objective on shares of Holley from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Wednesday, February 18th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $5.00 target price on shares of Holley in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $4.67.

About Holley

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley's products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company's product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.