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

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

Stoneridge Price Performance

Shares of Stoneridge stock traded up $0.02 on Friday, hitting $5.84. The company’s stock had a trading volume of 183,384 shares, compared to its average volume of 322,589. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $6.30 and a 200-day moving average price of $10.46. Stoneridge has a 52-week low of $5.23 and a 52-week high of $19.34. The company has a market capitalization of $161.57 million, a P/E ratio of -21.61 and a beta of 1.35.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on SRI. StockNews.com cut shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Thursday, October 31st.

Institutional Trading of Stoneridge

Several institutional investors and hedge funds have recently made changes to their positions in SRI. The Manufacturers Life Insurance Company boosted its position in Stoneridge by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after acquiring an additional 1,226 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Stoneridge by 25.7% during the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock worth $155,000 after purchasing an additional 2,833 shares during the last quarter. Rhumbline Advisers grew its position in shares of Stoneridge by 7.6% in the second quarter. Rhumbline Advisers now owns 47,251 shares of the auto parts company’s stock valued at $754,000 after purchasing an additional 3,353 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Stoneridge by 2.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 178,248 shares of the auto parts company’s stock valued at $1,995,000 after purchasing an additional 3,748 shares during the last quarter. Finally, Quarry LP purchased a new position in Stoneridge during the third quarter worth about $44,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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.