Stoneridge (NYSE:SRI) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Stoneridge shares rose above their 200-day moving average, reaching $7.36 and last trading near $7.24 versus the average of $6.91.
• Analyst sentiment remains cautious: the stock has an average rating of “Reduce” and a $16.00 target price, while the company reported an adjusted quarterly loss of $0.18 per share, missing expectations despite higher-than-expected revenue.
• Insiders recently bought shares, including 5,000 by the CEO and 6,000 by the CFO, while institutional investors own approximately 98.07% of the company.

Stoneridge, Inc. (NYSE:SRI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.91 and traded as high as $7.36. Stoneridge shares last traded at $7.2390, with a volume of 73,206 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research upgraded Stoneridge from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Stoneridge in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $16.00.

Stoneridge Trading Up 0.8%

The business's 50 day moving average is $7.20 and its two-hundred day moving average is $6.91. The company has a quick ratio of 1.27, a current ratio of 1.89 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $206.46 million, a P/E ratio of -1.70 and a beta of 1.88.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The auto parts company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.26). The company had revenue of $181.38 million during the quarter, compared to analyst estimates of $161.85 million. Stoneridge had a negative return on equity of 24.91% and a negative net margin of 15.64%. Analysts expect that Stoneridge, Inc. will post -0.82 EPS for the current year.

Insider Activity

In other Stoneridge news, CEO Natalia Noblet purchased 5,000 shares of the company's stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $7.31 per share, for a total transaction of $36,550.00. Following the completion of the transaction, the chief executive officer owned 5,000 shares in the company, valued at $36,550. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott Humphrey bought 6,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $7.01 per share, for a total transaction of $42,060.00. Following the completion of the acquisition, the chief financial officer directly owned 6,000 shares in the company, valued at approximately $42,060. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stoneridge

Several hedge funds have recently made changes to their positions in SRI. AQR Capital Management LLC lifted its holdings in shares of Stoneridge by 213.7% in the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company's stock valued at $2,449,000 after purchasing an additional 363,407 shares in the last quarter. Millennium Management LLC increased its stake in Stoneridge by 3.0% in the 1st quarter. Millennium Management LLC now owns 954,577 shares of the auto parts company's stock valued at $4,382,000 after buying an additional 28,037 shares during the period. Goldman Sachs Group Inc. increased its stake in Stoneridge by 55.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 490,160 shares of the auto parts company's stock valued at $2,250,000 after buying an additional 175,736 shares during the period. Strs Ohio acquired a new position in Stoneridge in the 1st quarter valued at approximately $39,000. Finally, JPMorgan Chase & Co. lifted its position in Stoneridge by 25.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 614,538 shares of the auto parts company's stock worth $4,326,000 after buying an additional 122,897 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

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.

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