Stoneridge, Inc. (NYSE:SRI) Short Interest Up 69.6% in March

Stoneridge, Inc. (NYSE:SRI) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 525,006 shares, a growth of 69.6% from the February 26th total of 309,482 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 301,586 shares, the short-interest ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

SRI has been the topic of a number of recent research reports. Zacks Research raised Stoneridge to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. Wall Street Zen cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Barrington Research downgraded shares of Stoneridge from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Stoneridge presently has an average rating of “Reduce” and an average price target of $16.00.

Institutional Investors Weigh In On Stoneridge

Several large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in shares of Stoneridge by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 93,729 shares of the auto parts company’s stock valued at $714,000 after buying an additional 1,815 shares in the last quarter. Jane Street Group LLC raised its position in Stoneridge by 1.9% during the fourth quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock worth $667,000 after acquiring an additional 2,178 shares in the last quarter. State Street Corp lifted its stake in Stoneridge by 2.6% in the fourth quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock valued at $778,000 after acquiring an additional 3,400 shares during the last quarter. Algert Global LLC lifted its stake in Stoneridge by 19.8% in the third quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock valued at $197,000 after acquiring an additional 4,270 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Stoneridge by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock valued at $1,841,000 after acquiring an additional 4,545 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

Stoneridge Stock Down 5.8%

Shares of Stoneridge stock traded down $0.30 during trading hours on Friday, reaching $4.85. 259,468 shares of the company’s stock were exchanged, compared to its average volume of 216,298. The stock has a market cap of $135.90 million, a P/E ratio of -1.31 and a beta of 1.45. The company has a 50 day moving average of $7.15 and a two-hundred day moving average of $6.75. The company has a current ratio of 2.30, a quick ratio of 1.45 and a debt-to-equity ratio of 1.01. Stoneridge has a fifty-two week low of $3.54 and a fifty-two week high of $9.71.

Stoneridge (NYSE:SRI) last released its earnings results on Thursday, March 12th. The auto parts company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.55). Stoneridge had a negative return on equity of 13.49% and a negative net margin of 11.94%.The company had revenue of $205.15 million for the quarter, compared to the consensus estimate of $211.70 million. On average, sell-side analysts forecast that Stoneridge will post -0.42 EPS for the current fiscal year.

Stoneridge Company Profile

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.