Short Interest in Stoneridge, Inc. (NYSE:SRI) Drops By 19.1%

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

Institutional Trading of Stoneridge

Large investors have recently modified their holdings of the business. Royce & Associates LP boosted its position in shares of Stoneridge by 12.3% during the 3rd quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock valued at $15,185,000 after acquiring an additional 148,461 shares during the last quarter. EVR Research LP boosted its position in shares of Stoneridge by 36.3% during the 2nd quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock valued at $8,698,000 after acquiring an additional 145,000 shares during the last quarter. State Street Corp boosted its position in shares of Stoneridge by 1.9% during the 3rd quarter. State Street Corp now owns 628,981 shares of the auto parts company’s stock valued at $7,038,000 after acquiring an additional 11,929 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Stoneridge by 27.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,736 shares of the auto parts company’s stock valued at $378,000 after acquiring an additional 7,332 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Stoneridge by 218.3% in the 3rd quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company’s stock worth $780,000 after buying an additional 47,829 shares during the last quarter. Institutional investors own 98.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SRI shares. StockNews.com lowered Stoneridge from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Stoneridge in a report on Thursday, October 31st.

Stoneridge Trading Up 0.5 %

SRI stock opened at $5.83 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. Stoneridge has a twelve month low of $5.23 and a twelve month high of $19.34. The stock has a 50-day simple moving average of $6.33 and a two-hundred day simple moving average of $10.53.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). The company had revenue of $213.80 million for the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. As a group, sell-side analysts predict that Stoneridge will post -0.42 EPS for the current year.

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.