Holley Inc. (NYSE:HLLY) finished Wednesday with an addition of $1.4 to close at $7.61, an upside of 22.59 percent. An average of 1,076,672 shares of common stock have been traded in the last five days. There was a gain of $1.46 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 1,015,823 shares traded, while the 50-day average volume stands at 822,233.
HLLY stock has increased by 42.83% in the last month. The company shares reached their 1-month lowest point of $4.24 on 07/11/23. With the stock rallying to its 52-week high on 08/10/23, shares of the company touched a low of $1.88 and a high of $7.08 in 52 weeks. It has reached a new high 34 times so far this year and achieved 259.10% or $5.45 in price. In spite of this, the price is up 7.53% from the 52-week high.
Insider Transactions
HLLY stock investors should be aware that Holley Inc. (HLLY) stock had its last reported insider trading activity 359 days ago on Jun 26. In this transaction, the insider spent $62,720. Chief Financial Officer, Bardos Dominic, disposed of 24,578 shares at a price of $6.50 on Aug 15. The insider now owns more than $159,757 worth of shares.
Valuation Metrics
Holley Inc. (HLLY) has a trailing price-to-earnings (P/E) ratio of 14.61. The stock’s beta is 1.62. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.36, the price-to-book (PB) ratio at 2.12.
Financial Health
The quick ratio of Holley Inc. for the three months ended March 30 was 1.00, and the current ratio was 3.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.51 and a total debt to equity ratio of 1.53 for the quarter ending March 30. Holley Inc.’s EBITDA margin for the year ending March 30 is 12.80%, while its operating margin for the same period stands at 6.20%. Its gross profit as reported stood at $253.66 million compared to revenue of $688.41 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Holley Inc.’s return on assets was 4.90%.
Earnings Surprise
For the three-month period that ended March 30, Holley Inc. had $636.15 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $4.25 million in the quarter, while revenues of -$15.23 million were shrunk -296.71%. The analyst consensus anticipated Holley Inc.’s latest quarter earnings to come in at $0.01 per share, but it turned out to be $0.05, a 400.00% surprise. For the quarter, EBITDA amounted to $33.95 million. Shareholders own equity worth $118.27 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Holley Inc. (HLLY) price momentum. RSI 9-day as of the close on 09 August was 73.16%, suggesting the stock is Overbought, with historical volatility in this time frame at 115.24%.
As of today, HLLY’s price is $6.62 +23.98% or $1.46 from its 5-day moving average. HLLY is currently trading +37.98% higher than its 20-day SMA and +203.00% higher than its 100-day SMA. However, the stock’s current price level is +130.95% above the SMA50 and +89.37% above the SMA200.
The stochastic %K and %D were 66.36% and 67.53%, respectively, and the average true range (ATR) was 0.59. With the 14-day stochastic at 83.73% and the average true range at 0.51, the RSI (14) stands at 71.17%. The stock has reached 0.31 on the 9-day MACD Oscillator while the 14-day reading was at 0.41.
Analyst Ratings
Telsey Advisory Group upgraded Holley Inc. (NYSE: HLLY) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Market perform. The consensus rating for Holley Inc. (HLLY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell HLLY, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.
What is HLLY’s price target for the next 12 months?
Analysts predict a range of price targets between $3.00 and $8.00, with a median target of $6.38. Taking a look at these predictions, the average price target given by analysts for Holley Inc. (HLLY) stock is $6.35.
