Stoneridge, Inc. (NYSE:SRI) Short Interest Down 18.9% in March

Stoneridge, Inc. (NYSE:SRI) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 365,300 shares, a decrease of 18.9% from the February 28th total of 450,500 shares. Based on an average daily trading volume, of 381,600 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.4% of the company’s stock are sold short.

Stoneridge Stock Performance

Shares of SRI traded up $0.10 on Wednesday, reaching $4.77. 372,716 shares of the company’s stock traded hands, compared to its average volume of 255,922. The stock’s 50 day simple moving average is $4.91 and its two-hundred day simple moving average is $6.81. The stock has a market cap of $132.11 million, a PE ratio of -17.67 and a beta of 1.27. Stoneridge has a 52-week low of $4.11 and a 52-week high of $18.40. 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 released its earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The business had revenue of $218.20 million for the quarter, compared to the consensus estimate of $207.61 million. On average, analysts forecast that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stoneridge

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its position in Stoneridge by 440.8% in the fourth quarter. Millennium Management LLC now owns 926,540 shares of the auto parts company’s stock worth $5,809,000 after buying an additional 755,223 shares during the last quarter. AYAL Capital Advisors Ltd increased its holdings in Stoneridge by 264.2% in the 4th quarter. AYAL Capital Advisors Ltd now owns 923,494 shares of the auto parts company’s stock worth $5,790,000 after acquiring an additional 669,935 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Stoneridge by 405.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 699,838 shares of the auto parts company’s stock valued at $4,388,000 after acquiring an additional 561,488 shares during the period. Raymond James Financial Inc. bought a new stake in Stoneridge in the 4th quarter valued at about $2,180,000. Finally, 22NW LP purchased a new stake in Stoneridge during the fourth quarter valued at about $2,149,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Saturday. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research report on Tuesday, March 4th.

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.