Holley Inc. (NYSE: HLLY) stock jumped 3.99% on Friday to $2.87 against a previous-day closing price of $2.76. With 0.7 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.73 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $3.0300 whereas the lowest price it dropped to was $2.7100. The 52-week range on HLLY shows that it touched its highest point at $14.68 and its lowest point at $1.88 during that stretch. It currently has a 1-year price target of $5.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HLLY was up-trending over the past week, with a rise of 15.73%, but this was up by 33.49% over a month. Three-month performance dropped to -27.71% while six-month performance fell -76.80%. The stock lost -78.24% in the past year, while it has gained 35.38% so far this year. A look at the trailing 12-month EPS for HLLY yields 0.61 with Next year EPS estimates of 0.41. For the next quarter, that number is 0.02. This implies an EPS growth rate of -182.60% for this year and 50.73% for next year.
Float and Shares Shorts:
At present, 116.96 million HLLY shares are outstanding with a float of 107.16 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.89 million, which was 4.14% higher than short shares on Sep 14, 2022. In addition to Mr. Thomas W. Tomlinson as the firm’s Pres, CEO & Director, Mr. Vinod Nimmagadda serves as its Exec. VP of Corp. Devel. & New Ventures.
Through their ownership of 96.23% of HLLY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.34% of HLLY, in contrast to 39.58% held by mutual funds. Shares owned by individuals account for 31.15%. As the largest shareholder in HLLY with 12.11% of the stake, Kayne Anderson Rudnick Investment holds 14,322,712 shares worth 14,322,712. A second-largest stockholder of HLLY, Wasatch Advisors, Inc., holds 8,879,168 shares, controlling over 7.51% of the firm’s shares. Allspring Global Investments LLC is the third largest shareholder in HLLY, holding 3,444,964 shares or 2.91% stake. With a 8.97% stake in HLLY, the Virtus KAR Small Cap Growth Fund is the largest stakeholder. A total of 10,610,230 shares are owned by the mutual fund manager. The Allspring Special Small Cap Value, which owns about 5.02% of HLLY stock, is the second-largest Mutual Fund holder. It holds 5,936,205 shares valued at 12.58 million. Baron Small Cap Fund holds 3.81% of the stake in HLLY, owning 4,500,000 shares worth 9.54 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HLLY since 9 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With HLLY analysts setting a high price target of $8.00 and a low target of $3.00, the average target price over the next 12 months is $4.86. Based on these targets, HLLY could surge 178.75% to reach the target high and rise by 4.53% to reach the target low. Reaching the average price target will result in a growth of 69.34% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. HLLY will report FY 2022 earnings on 02/29/2024. Analysts have provided yearly estimates in a range of $0.78 being high and $0.23 being low. For HLLY, this leads to a yearly average estimate of $0.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Holley Inc. surprised analysts by -$0.09 when it reported -$0.03 EPS against a consensus estimate of $0.05. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is $0.07 and the low estimate is -$0.03. The average estimate for the next quarter is thus $0.02.
Summary of Insider Activity:
Insiders traded HLLY stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 481,926 shares were bought while 0 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 5,852,111 while 45,407,338 shares were sold.