Short Interest in Stoneridge, Inc. (NYSE:SRI) Decreases By 18.8%

Key Points

• Stoneridge, Inc. experienced an 18.8% decrease in short interest from 234,400 shares to 190,400 shares in August, with only 0.7% of its shares currently sold short.
• Barrington Research maintained an "outperform" rating with a price target of $16.00 per share, while the stock has an average rating of "Buy."
• The company's recent earnings report showed a loss of ($0.25) EPS, missing expectations, despite revenue exceeding estimates at $227.95 million.

Stoneridge, Inc. (NYSE:SRI - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 190,400 shares, a decline of 18.8% from the August 15th total of 234,400 shares. Based on an average daily trading volume, of 364,900 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.7% of the company's shares are sold short. Currently, 0.7% of the company's shares are sold short. Based on an average daily trading volume, of 364,900 shares, the days-to-cover ratio is currently 0.5 days.

Stoneridge Stock Down 2.2%

NYSE SRI traded down $0.19 during mid-day trading on Monday, reaching $8.27. 187,363 shares of the company's stock traded hands, compared to its average volume of 334,140. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. Stoneridge has a 1-year low of $3.54 and a 1-year high of $12.29. The company has a fifty day simple moving average of $7.96 and a 200-day simple moving average of $6.16. The company has a market cap of $231.50 million, a price-to-earnings ratio of -7.65 and a beta of 1.50.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The firm had revenue of $227.95 million during the quarter, compared to the consensus estimate of $219.90 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. As a group, equities research analysts expect that Stoneridge will post -0.42 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new position in Stoneridge in the second quarter worth about $180,000. Tower Research Capital LLC TRC lifted its holdings in shares of Stoneridge by 211.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,485 shares of the auto parts company's stock worth $95,000 after purchasing an additional 9,149 shares during the last quarter. Man Group plc boosted its position in Stoneridge by 170.1% during the 2nd quarter. Man Group plc now owns 242,253 shares of the auto parts company's stock valued at $1,705,000 after purchasing an additional 152,547 shares during the period. BNP Paribas Financial Markets grew its stake in Stoneridge by 64.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 102,359 shares of the auto parts company's stock worth $721,000 after buying an additional 40,013 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Stoneridge by 113.3% in the second quarter. Bridgeway Capital Management LLC now owns 32,000 shares of the auto parts company's stock worth $225,000 after buying an additional 17,000 shares during the period. 98.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barrington Research reissued an "outperform" rating and set a $16.00 price target on shares of Stoneridge in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $16.00.

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.