Stoneridge, Inc. (NYSE:SRI – Get Free Report) 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.
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.
Get Our Latest Analysis on SRI
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.
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