Weiss Ratings Reiterates Sell (D) Rating for Holley (NYSE:HLLY)

Holley (NYSE:HLLY - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Benchmark upgraded shares of Holley from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a research report on Friday, August 8th. Canaccord Genuity Group boosted their price objective on shares of Holley from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Raymond James Financial boosted their price objective on shares of Holley from $2.25 to $3.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Telsey Advisory Group reiterated an "outperform" rating and set a $2.75 price objective on shares of Holley in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Holley from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.75.

Holley Trading Up 4.4%

Shares of HLLY opened at $3.08 on Wednesday. The company's fifty day moving average is $3.32 and its 200 day moving average is $2.58. Holley has a fifty-two week low of $1.60 and a fifty-two week high of $4.09. The stock has a market capitalization of $371.14 million, a PE ratio of -11.85 and a beta of 1.36. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%.The business had revenue of $166.66 million during the quarter, compared to the consensus estimate of $162.67 million. Sell-side analysts expect that Holley will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Holley

In other news, Director David S. Lobel sold 14,000,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $2.63, for a total value of $36,820,000.00. Following the transaction, the director directly owned 26,754,834 shares in the company, valued at approximately $70,365,213.42. This represents a 34.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HLLY. Cerity Partners LLC purchased a new stake in Holley in the second quarter worth about $25,000. Nisa Investment Advisors LLC lifted its stake in Holley by 994.4% in the first quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company's stock worth $42,000 after acquiring an additional 15,025 shares during the period. Captrust Financial Advisors purchased a new stake in Holley in the second quarter worth about $44,000. Brevan Howard Capital Management LP lifted its stake in Holley by 103.4% in the second quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company's stock worth $45,000 after acquiring an additional 11,494 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Holley in the second quarter worth about $47,000. 39.70% of the stock is currently owned by institutional investors.

Holley Company Profile

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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