BOWLING GREEN, Ky. - Holley Performance Brands (NYSE: HLLY), known for its automotive aftermarket performance solutions, has introduced a Bluetooth module for its Sniper 2 Electronic Fuel Injection (EFI) conversion system. This new addition promises to enhance the user experience by enabling classic car and truck enthusiasts to control the EFI system via a smartphone app, eliminating the need for a separate tuning screen.
The Sniper 2 EFI, which was initially released in July 2023, is designed to replace carburetors in classic vehicles, allowing them to operate with the efficiency of modern cars. The system is part of a comprehensive EFI ecosystem that includes Hyperspark ignition systems and fuel systems, aimed at simplifying and optimizing the tuning process.
Matthew Stevenson, President and CEO of Holley Performance Brands, emphasized the significance of the Bluetooth module, stating that it puts control of the vehicle's horsepower directly into the user's hand. The company's latest innovation is in line with its commitment to exceeding customer expectations through new technology.
The Bluetooth module is now available for purchase through Holley's website and various national and local distributors. The module is expected to contribute to Sniper 2 EFI's status as a leading EFI conversion solution in the market.
Holley Performance Brands has established itself in the automotive industry by focusing on four consumer verticals: Domestic Muscle, Modern Truck & Off-Road, Euro & Import, and Safety & Racing. The company's strategic approach includes a mix of product innovation and acquisitions, aimed at enhancing vehicle customization and performance for automotive enthusiasts.
This news is based on a press release statement from Holley Performance Brands.
InvestingPro Insights
As Holley Performance Brands (NYSE: HLLY) continues to innovate with products like the Bluetooth module for the Sniper 2 EFI system, investors are keeping a close eye on the company's financial health and market performance. According to real-time data from InvestingPro, Holley has a market capitalization of $478.85 million, reflecting the company's current market value. The firm's P/E ratio stands at 24.75, indicating how much investors are willing to pay for each dollar of earnings, which is relatively high when considering the near-term earnings growth.
One of the InvestingPro Tips suggests that while Holley has been trading at a high P/E ratio, it is essential to note that analysts predict the company will be profitable this year. This could be a sign of confidence in Holley's ability to maintain its growth trajectory, particularly as it expands its product offerings in the automotive aftermarket. Additionally, Holley's stock price movements have been quite volatile, which could present opportunities for investors looking to capitalize on price fluctuations.
Moreover, Holley has demonstrated a high return over the last year with a 68.05% price total return, showcasing its strong market performance. It's also worth mentioning that Holley's liquid assets exceed its short-term obligations, providing the company with a stable financial cushion to support ongoing operations and investments in new technologies like the Sniper 2 EFI's Bluetooth module.
For those interested in a deeper dive into Holley's financials and market potential, InvestingPro offers additional tips and metrics. To explore these insights and make more informed investment decisions, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 7 additional InvestingPro Tips available for Holley Performance Brands, which can be accessed at: https://www.investing.com/pro/HLLY.
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