Stoneridge, Inc. (NYSE:SRI) Short Interest Up 69.6% in March

Stoneridge, Inc. (NYSE:SRI) saw a significant increase in short interest during 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 company’s shares are short sold. Based on an average trading volume of 301,586 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Stoneridge

Institutional investors and hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its position in shares of Stoneridge by 285.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after acquiring an additional 383,805 shares in the last quarter. AQR Capital Management LLC boosted its stake in Stoneridge by 213.7% in the 1st quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock worth $2,449,000 after purchasing an additional 363,407 shares during the period. Federated Hermes Inc. boosted its stake in Stoneridge by 50.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company’s stock worth $7,480,000 after purchasing an additional 356,143 shares during the period. 22NW LP increased its holdings in Stoneridge by 19.4% during the 2nd quarter. 22NW LP now owns 1,943,508 shares of the auto parts company’s stock worth $13,682,000 after purchasing an additional 315,855 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Stoneridge by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock worth $1,487,000 after purchasing an additional 198,423 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

Stoneridge Trading Down 5.8%

Shares of Stoneridge stock traded down $0.30 on Friday, hitting $4.85. 259,468 shares of the company’s stock traded hands, compared to its average volume of 216,298. The firm’s 50-day moving average price is $7.15 and its two-hundred day moving average price is $6.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.30 and a quick ratio of 1.45. The stock has a market capitalization of $135.90 million, a PE ratio of -1.31 and a beta of 1.45. Stoneridge has a one year low of $3.54 and a one year high of $9.71.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $211.70 million. Stoneridge had a negative return on equity of 13.49% and a negative net margin of 11.94%. On average, research analysts expect that Stoneridge will post -0.42 EPS for the current fiscal year.

About Stoneridge

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.