Stoneridge, Inc. (NYSE:SRI) Short Interest Update

Stoneridge, Inc. (NYSE:SRI) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 525,006 shares, a growth of 69.6% from the February 26th total of 309,482 shares. Based on an average trading volume of 301,586 shares, the short-interest ratio is currently 1.7 days. Approximately 1.9% of the shares of the company are short sold.

Stoneridge Price Performance

Shares of SRI stock traded down $0.30 on Friday, reaching $4.85. The company’s stock had a trading volume of 259,468 shares, compared to its average volume of 282,917. The company has a quick ratio of 1.45, a current ratio of 2.30 and a debt-to-equity ratio of 1.01. Stoneridge has a 12-month low of $3.54 and a 12-month high of $9.71. The company has a market capitalization of $135.88 million, a P/E ratio of -1.31 and a beta of 1.45. The stock’s 50 day simple moving average is $7.15 and its 200-day simple moving average is $6.74.

Stoneridge (NYSE:SRI) last posted its earnings results on Thursday, March 12th. The auto parts company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.55). The business had revenue of $205.15 million for the quarter, compared to analysts’ expectations of $211.70 million. Stoneridge had a negative return on equity of 13.49% and a negative net margin of 11.94%. As a group, equities analysts predict that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen lowered Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Zacks Research raised Stoneridge to a “hold” rating in a report on Wednesday, March 18th. Barrington Research cut Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $16.00.

Institutional Investors Weigh In On Stoneridge

Hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its holdings in shares of Stoneridge by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company’s stock worth $714,000 after buying an additional 1,815 shares during the last quarter. Jane Street Group LLC grew its position in Stoneridge by 1.9% in the fourth quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock worth $667,000 after acquiring an additional 2,178 shares in the last quarter. State Street Corp increased its stake in Stoneridge by 2.6% in the fourth quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock valued at $778,000 after acquiring an additional 3,400 shares during the last quarter. Algert Global LLC increased its stake in Stoneridge by 19.8% in the third quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock valued at $197,000 after acquiring an additional 4,270 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Stoneridge by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock valued at $1,841,000 after purchasing an additional 4,545 shares in the last quarter. 98.07% of the stock is currently owned by institutional investors.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.