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

Stoneridge, Inc. (NYSE:SRI) was the target of a large 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. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 378,700 shares, the short-interest ratio is currently 1.2 days.

Hedge Funds Weigh In On Stoneridge

A number of large investors have recently added to or reduced their stakes in SRI. Federated Hermes Inc. acquired a new position in Stoneridge during the fourth quarter worth $25,000. US Bancorp DE raised its position in Stoneridge by 65.2% during the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 2,679 shares during the period. Quarry LP acquired a new position in Stoneridge during the third quarter worth $44,000. Quantinno Capital Management LP acquired a new position in Stoneridge during the fourth quarter worth $63,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Stoneridge in the fourth quarter valued at about $74,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Stock Performance

SRI opened at $4.99 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The firm has a fifty day moving average price of $5.04 and a 200 day moving average price of $7.36. The stock has a market cap of $138.09 million, a P/E ratio of -18.47 and a beta of 1.27. Stoneridge has a 1 year low of $4.11 and a 1 year high of $18.57.

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

Analyst Ratings Changes

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

Stoneridge Company Profile

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.