Short Interest in Stoneridge, Inc. (NYSE:SRI) Expands By 27.0%

Stoneridge, Inc. (NYSE:SRI) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 450,500 shares, a growth of 27.0% from the February 13th total of 354,600 shares. Based on an average daily trading volume, of 378,700 shares, the short-interest ratio is presently 1.2 days. Currently, 1.7% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently commented on SRI. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research report on Tuesday, March 4th. StockNews.com cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th.

Institutional Investors Weigh In On Stoneridge

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in shares of Stoneridge during the fourth quarter valued at about $25,000. US Bancorp DE increased its position in shares of Stoneridge by 65.2% during the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after acquiring an additional 2,679 shares during the last quarter. Quarry LP acquired a new stake in shares of Stoneridge during the third quarter valued at about $44,000. Quantinno Capital Management LP acquired a new stake in shares of Stoneridge during the fourth quarter valued at about $63,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Stoneridge during the fourth quarter valued at about $74,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Price Performance

Stoneridge stock opened at $4.99 on Wednesday. Stoneridge has a 12-month low of $4.11 and a 12-month high of $18.57. The stock has a market cap of $138.09 million, a P/E ratio of -18.47 and a beta of 1.27. The company has a 50-day moving average price of $5.04 and a 200 day moving average price of $7.36. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $218.20 million for the quarter, compared to analyst estimates of $207.61 million. Sell-side analysts anticipate that Stoneridge will post -0.42 earnings per share for the current year.

About Stoneridge

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates through three segments: Control Devices, Electronics, and Stoneridge Brazil.