The Insider Activity Of Holley Inc. (HLLY) Should Not Be Ignored

As of Friday close, Holley Inc.’s (NYSE:HLLY) stock was down -$0.31, moving down -5.13 percent to $5.73. The average number of shares traded per day over the past five days has been 3,362,580 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.26 fall in that time frame. In the last twenty days, the average volume was 1,548,235, while in the previous 50 days, it was 1,106,676.

Since last month, HLLY stock retreated -50.00%. Shares of the company fell to $5.68 on 08/05/22, the lowest level in the past month. A 52-week high of $14.68 was reached on 03/17/22 after having rallying from a 52-week low of $6.00. Since the beginning of this year, HLLY’s stock price has dropped by -55.89% or -$7.26, and marked a new high 7 times. However, the stock has declined by -60.97% since its 52-week high.

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Holley Inc. (HLLY) last reported insider trading activity 103 days ago on Apr 25. Basham Owen, the Director of the company, disposed of 8,000,000 shares for $11.43 on Apr 25. It resulted in a $91,440,000 divestment by the insider. LOBEL DAVID S sold 8,000,000 shares at an average price of $11.43 on Apr 25. The insider now owns 54,673,884 shares following the transaction. On Apr 25, Director Coady James D. sold 8,000,000 shares at $11.43 apiece. The transaction was valued at $91,440,000.

Financial Health

In the three months ended March 30, Holley Inc.’s quick ratio stood at 1.30, while its current ratio was 3.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 1.87, and the total debt-to-equity ratio was 1.89. On the profitability front, the trailing twelve-month gross margin is 41.20% percent. In the year ended March 30, operating margins totaled 8.60%. Based on annual data, HLLY earned $286.81 million in gross profit and brought in $692.85 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 5.60%. Return on equity (ROE) for the past 12 months was -11.10%.

In Holley Inc.’s quarter-end financial report for March 30, it reported total debt of $636.3 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. HLLY’s revenue rose 99.98% to $533.11 million during the quarter, while net income inched up to $200.06 million. While analysts expected Holley Inc. to report $0.15 quarterly earnings, the actual figure was $0.19 per share, beating the consensus estimate by 26.70%. During the quarter, the company generated $43.61 million in EBITDA. The liabilities of Holley Inc. were 909.25 million at the end of its most recent quarter ended March 30, and its total debt was $642.6 million. The value of shareholders’ equity is $118.03 million.

Technical Picture

This quick technical analysis looks at Holley Inc.’s (HLLY) price momentum. With a historical volatility rate of 221.98%, the RSI 9-day stood at 15.00% on 05 August.

With respect to its five-day moving average, the current Holley Inc. price is down by -28.29% percent or -$2.26. At present, HLLY shares trade -49.43% below its 20-day simple moving average and -57.01% percent below its 100-day simple moving average. However, the stock is currently trading approximately -41.23% below its SMA50 and -48.19% below its SMA200.

Stochastic coefficient K was 1.38% and Stochastic coefficient D was 2.43%, while ATR was 0.75. Given the Stochastic reading of 0.71% for the 14-day period, the RSI (14) reading has been calculated as 20.67%. As of today, the MACD Oscillator reading stands at -2.50, while the 14-day reading stands at -3.80.

Analyst Ratings

Holley Inc. downgraded its rating on Holley Inc. (NYSE: HLLY) to a Neutral in a note to investors on July 29, 2022. The analysts firm previously had an Overweight rating on the stock.Holley Inc. (HLLY) has been rated Overweight by analysts. According to 0 brokerage firms, HLLY is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Holley Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $10.50, the current consensus forecast for the stock is $9.00 – $15.00. Based on these forecasts, analysts predict Holley Inc. (HLLY) will achieve an average price target of $11.13.


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