Stoneridge, Inc. (NYSE:SRI) Short Interest Up 27.0% in February

by · The Markets Daily

Stoneridge, Inc. (NYSE:SRI – Get Free Report) saw a large growth in short interest in 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. Based on an average trading volume of 378,700 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.7% of the shares of the company are sold short.

Stoneridge Stock Performance

NYSE:SRI traded down $0.16 during mid-day trading on Tuesday, hitting $4.99. 255,859 shares of the stock were exchanged, compared to its average volume of 245,442. The stock has a market capitalization of $138.09 million, a price-to-earnings ratio of -18.47 and a beta of 1.27. 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 firm’s 50-day simple moving average is $5.06 and its 200 day simple moving average is $7.43. Stoneridge has a fifty-two week low of $4.11 and a fifty-two week high of $18.57.

Stoneridge (NYSE:SRI – Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.36). The company had revenue of $218.20 million during the quarter, compared to analyst estimates 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, equities analysts anticipate that Stoneridge will post -0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on Stoneridge

Hedge Funds Weigh In On Stoneridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRI. Federated Hermes Inc. acquired a new position in Stoneridge in the 4th quarter valued at $25,000. US Bancorp DE raised its holdings in shares of 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. Quarry LP acquired a new position in shares of Stoneridge during the 3rd quarter worth $44,000. Quantinno Capital Management LP acquired a new position in shares of Stoneridge during the 4th quarter worth $63,000. Finally, SG Americas Securities LLC acquired a new position in shares of Stoneridge during the 4th quarter worth $74,000. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Company Profile

(Get Free Report)

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.

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