Stoneridge (NYSE:SRI) Shares Pass Above 200-Day Moving Average – Time to Sell?

Stoneridge, Inc. (NYSE:SRI)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.01 and traded as high as $8.49. Stoneridge shares last traded at $7.78, with a volume of 90,874 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Stoneridge Trading Down 4.5%

The company has a quick ratio of 1.33, a current ratio of 2.13 and a debt-to-equity ratio of 0.68. The firm’s 50 day simple moving average is $6.92 and its two-hundred day simple moving average is $7.01. The stock has a market cap of $218.00 million, a P/E ratio of -6.71 and a beta of 1.51.

Institutional Investors Weigh In On Stoneridge

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after acquiring an additional 363,407 shares during the period. Millennium Management LLC boosted its position in Stoneridge by 3.0% during the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock valued at $4,382,000 after purchasing an additional 28,037 shares during the period. Goldman Sachs Group Inc. boosted its position in Stoneridge by 55.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company’s stock valued at $2,250,000 after purchasing an additional 175,736 shares during the period. Strs Ohio bought a new position in Stoneridge during the 1st quarter worth $39,000. Finally, CWM LLC increased its position in Stoneridge by 38.4% in the second quarter. CWM LLC now owns 17,783 shares of the auto parts company’s stock worth $125,000 after buying an additional 4,934 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.