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

Stoneridge, Inc. (NYSE:SRI) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 450,500 shares, an increase of 27.0% from the February 13th total of 354,600 shares. Based on an average daily volume of 378,700 shares, the short-interest ratio is presently 1.2 days. Currently, 1.7% of the company’s stock are sold short.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in shares of Stoneridge in the fourth quarter valued at approximately $25,000. US Bancorp DE grew its stake in Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 2,679 shares during the period. Quarry LP purchased a new stake in shares of Stoneridge during the 3rd quarter valued at $44,000. Quantinno Capital Management LP bought a new stake in shares of Stoneridge during the 4th quarter worth $63,000. Finally, SG Americas Securities LLC purchased a new position in shares of Stoneridge in the 4th quarter worth about $74,000. 98.07% of the stock is owned by institutional investors.

Stoneridge Stock Up 2.7 %

Shares of NYSE:SRI traded up $0.14 during mid-day trading on Monday, hitting $5.15. 398,548 shares of the company traded hands, compared to its average volume of 243,813. The stock has a 50-day moving average price of $5.06 and a two-hundred day moving average price of $7.43. Stoneridge has a 12-month low of $4.11 and a 12-month high of $18.57. The stock has a market cap of $142.49 million, a P/E ratio of -19.06 and a beta of 1.27. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). The firm had revenue of $218.20 million for the quarter, compared to analysts’ expectations of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. On average, equities research analysts forecast that Stoneridge will post -0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of 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 Tuesday, March 4th. StockNews.com downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th.

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.