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

Stoneridge, Inc. (NYSE:SRI) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 365,300 shares, a decline of 18.9% from the February 28th total of 450,500 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 381,600 shares, the short-interest ratio is presently 1.0 days.

Stoneridge Stock Performance

Shares of NYSE:SRI opened at $4.77 on Thursday. The stock has a market capitalization of $132.11 million, a price-to-earnings ratio of -17.67 and a beta of 1.27. The business’s fifty day moving average price is $4.89 and its two-hundred day moving average price is $6.79. Stoneridge has a fifty-two week low of $4.11 and a fifty-two week high of $18.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.36). The firm had revenue of $218.20 million for the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. As a group, analysts predict that Stoneridge will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Stoneridge

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Stoneridge in the third quarter worth $44,000. Federated Hermes Inc. bought a new position in shares of Stoneridge in the fourth quarter valued at about $25,000. US Bancorp DE lifted its position in Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after buying an additional 2,679 shares in the last quarter. Quantinno Capital Management LP bought a new stake in Stoneridge during the 4th quarter worth about $63,000. Finally, SG Americas Securities LLC bought a new stake in Stoneridge during the 4th quarter worth about $74,000. 98.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SRI shares. Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

About Stoneridge

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.