Holley (NYSE:HLLY) Price Target Cut to $5.50 by Analysts at Telsey Advisory Group

Holley (NYSE:HLLY) had its price target decreased by Telsey Advisory Group from $6.50 to $5.50 in a report issued on Wednesday, MarketBeat reports. Telsey Advisory Group currently has an outperform rating on the stock.

HLLY has been the topic of several other research reports. Benchmark reaffirmed a buy rating and set a $12.00 target price on shares of Holley in a research report on Monday. Canaccord Genuity Group decreased their price target on shares of Holley from $8.00 to $7.00 and set a buy rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $7.14.

Holley Trading Up 0.9 %

HLLY stock traded up $0.03 during mid-day trading on Wednesday, reaching $3.23. The company had a trading volume of 77,205 shares, compared to its average volume of 337,782. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.85 and a quick ratio of 1.04. The company has a market capitalization of $385.37 million, a PE ratio of 20.00 and a beta of 1.47. The firm has a 50 day moving average of $3.60 and a 200 day moving average of $4.08. Holley has a 12 month low of $3.14 and a 12 month high of $8.06.

Insider Activity

In other Holley news, Chairman Matthew E. Rubel bought 14,493 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $3.39 per share, with a total value of $49,131.27. Following the transaction, the chairman now owns 169,979 shares of the company’s stock, valued at $576,228.81. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

Institutional Trading of Holley

A number of hedge funds have recently added to or reduced their stakes in HLLY. American Century Companies Inc. raised its position in Holley by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after buying an additional 12,186 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in Holley by 1.8% during the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after purchasing an additional 5,431 shares in the last quarter. Skylands Capital LLC raised its holdings in Holley by 37.6% during the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after purchasing an additional 306,874 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Holley by 129.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock valued at $34,335,000 after purchasing an additional 5,409,997 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Holley in the 1st quarter valued at approximately $43,000. 39.70% of the stock is owned by institutional investors and hedge funds.

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.