Short Interest in Stoneridge, Inc. (NYSE:SRI) Rises By 69.6%

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

Wall Street Analysts Forecast Growth

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

Stoneridge Price Performance

Shares of SRI traded down $0.30 during trading hours on Friday, hitting $4.85. 259,468 shares of the company were exchanged, 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 fifty-two week low of $3.54 and a fifty-two week high of $9.71. The company has a market cap of $135.88 million, a price-to-earnings ratio of -1.31 and a beta of 1.45. The firm’s fifty day moving average is $7.15 and its 200 day moving average is $6.74.

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

Institutional Trading of Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its position in shares of Stoneridge by 36.2% during the 4th quarter. Hsbc Holdings PLC now owns 112,891 shares of the auto parts company’s stock worth $658,000 after acquiring an additional 29,992 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Stoneridge during the fourth quarter valued at approximately $62,000. Empowered Funds LLC bought a new stake in Stoneridge during the fourth quarter worth $131,000. Quadrature Capital Ltd acquired a new stake in shares of Stoneridge in the 4th quarter valued at $61,000. Finally, Man Group plc boosted its holdings in shares of Stoneridge by 8.1% in the 4th quarter. Man Group plc now owns 196,755 shares of the auto parts company’s stock valued at $1,139,000 after purchasing an additional 14,669 shares in the last quarter. Institutional investors 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.