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

Stoneridge, Inc. (NYSE:SRI) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 185,100 shares, a drop of 19.1% from the December 15th total of 228,900 shares. Based on an average daily volume of 347,700 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.7% of the company’s shares are sold short.

Stoneridge Stock Up 0.3 %

Stoneridge stock traded up $0.02 during trading on Friday, reaching $5.84. 183,384 shares of the company’s stock were exchanged, compared to its average volume of 322,589. Stoneridge has a 52-week low of $5.23 and a 52-week high of $19.34. The firm has a market cap of $161.57 million, a price-to-earnings ratio of -21.61 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The company’s 50-day moving average is $6.30 and its two-hundred day moving average is $10.46.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.32). The company had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. Stoneridge’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, analysts predict that Stoneridge will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on SRI shares. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research note on Thursday, October 31st. StockNews.com downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

Institutional Trading of Stoneridge

A number of hedge funds have recently made changes to their positions in SRI. Quarry LP purchased a new position in shares of Stoneridge in the third quarter valued at $44,000. US Bancorp DE purchased a new position in Stoneridge in the 3rd quarter valued at about $46,000. nVerses Capital LLC acquired a new stake in shares of Stoneridge during the third quarter valued at about $59,000. Olympiad Research LP acquired a new stake in shares of Stoneridge during the third quarter valued at about $121,000. Finally, XTX Topco Ltd purchased a new stake in shares of Stoneridge during the second quarter worth about $176,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.

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.