Stoneridge, Inc. (NYSE:SRI) Short Interest Update

Stoneridge, Inc. (NYSE:SRI) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 427,079 shares, a decline of 18.7% from the March 15th total of 525,006 shares. Based on an average daily volume of 272,614 shares, the short-interest ratio is presently 1.6 days. Approximately 1.6% of the company’s shares are sold short.

Stoneridge Stock Up 0.8%

Stoneridge stock traded up $0.06 during trading hours on Friday, hitting $6.92. 220,238 shares of the stock traded hands, compared to its average volume of 257,809. The firm’s 50-day moving average price is $6.73 and its two-hundred day moving average price is $6.48. The company has a current ratio of 2.30, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. The company has a market cap of $195.34 million, a PE ratio of -1.87 and a beta of 1.60. Stoneridge has a one year low of $3.59 and a one year high of $9.71.

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

Analyst Ratings Changes

A number of research 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 downgraded Stoneridge from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Friday, March 27th. Finally, Barrington Research cut Stoneridge from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoneridge has a consensus rating of “Reduce” and a consensus price target of $16.00.

Institutional Trading of Stoneridge

A number of hedge funds have recently made changes to their positions in the stock. 22NW LP boosted its position in shares of Stoneridge by 4.1% in the 4th quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock worth $12,696,000 after purchasing an additional 87,164 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Stoneridge by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,514,480 shares of the auto parts company’s stock worth $11,540,000 after purchasing an additional 51,263 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Stoneridge by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 1,110,619 shares of the auto parts company’s stock worth $6,430,000 after purchasing an additional 47,135 shares in the last quarter. AYAL Capital Advisors Ltd boosted its position in shares of Stoneridge by 2.1% in the 4th quarter. AYAL Capital Advisors Ltd now owns 1,089,000 shares of the auto parts company’s stock worth $6,305,000 after purchasing an additional 22,330 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company’s stock worth $4,382,000 after purchasing an additional 28,037 shares in the last quarter. 98.07% of the stock is owned by institutional investors.

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.