Monashee Investment Management LLC Makes New Investment in Holley Inc. $HLLY

Monashee Investment Management LLC purchased a new stake in shares of Holley Inc. (NYSE:HLLY) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 350,000 shares of the company’s stock, valued at approximately $1,099,000. Monashee Investment Management LLC owned approximately 0.29% of Holley at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HLLY. Cerity Partners LLC acquired a new stake in shares of Holley during the second quarter worth approximately $25,000. Captrust Financial Advisors bought a new position in Holley in the 2nd quarter worth about $44,000. Brevan Howard Capital Management LP increased its position in Holley by 103.4% in the 2nd quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock valued at $45,000 after acquiring an additional 11,494 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Holley during the second quarter valued at $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Holley by 16.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock worth $65,000 after buying an additional 4,661 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a research note on Thursday, January 22nd. Canaccord Genuity Group upped their price target on shares of Holley from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Benchmark raised their price objective on Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, November 10th. DA Davidson lifted their target price on shares of Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research note on Monday, November 10th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $5.00 price target on shares of Holley in a report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.67.

Holley Stock Performance

Shares of HLLY opened at $4.08 on Friday. The company has a market capitalization of $491.08 million, a PE ratio of -18.52 and a beta of 1.32. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.78 and a quick ratio of 1.06. Holley Inc. has a one year low of $1.60 and a one year high of $4.48. The company’s fifty day moving average price is $4.15 and its 200 day moving average price is $3.76.

Holley Company Profile

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.