Stoneridge (NYSE:SRI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Stoneridge, Inc. (NYSE:SRI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.01 and traded as high as $8.49. Stoneridge shares last traded at $7.78, with a volume of 90,874 shares.

Wall Street Analyst Weigh In

SRI has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research note on Monday, November 3rd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

Stoneridge Price Performance

The company has a market cap of $218.00 million, a price-to-earnings ratio of -6.71 and a beta of 1.51. The company’s 50-day simple moving average is $6.92 and its 200-day simple moving average is $7.01. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.13 and a quick ratio of 1.33.

Institutional Trading of Stoneridge

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in 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 purchasing an additional 1,815 shares during the last quarter. Jane Street Group LLC raised its position in shares of Stoneridge by 1.9% in the 4th quarter. Jane Street Group LLC now owns 115,259 shares of the auto parts company’s stock valued at $667,000 after purchasing an additional 2,178 shares in the last quarter. State Street Corp raised its position in shares of Stoneridge by 2.6% in the 4th quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock valued at $778,000 after purchasing an additional 3,400 shares in the last quarter. Algert Global LLC boosted its stake in shares of Stoneridge by 19.8% during the 3rd quarter. Algert Global LLC now owns 25,880 shares of the auto parts company’s stock valued at $197,000 after buying an additional 4,270 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Stoneridge by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 317,846 shares of the auto parts company’s stock worth $1,841,000 after buying an additional 4,545 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

About Stoneridge

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.