Stoneridge, Inc. (NYSE:SRI) Short Interest Update

Key Points

• Stoneridge, Inc. experienced a 73.8% increase in short interest in July, reaching a total of 411,500 shares sold short as of July 31.
• Several hedge funds notably increased their positions in Stoneridge during the second quarter, with Tower Research Capital raising its stake by 211%.
• Stoneridge reported a net loss of $0.25 per share in its latest earnings, missing the consensus estimate and showing a negative net margin of 3.39%.

Stoneridge, Inc. (NYSE:SRI - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 411,500 shares, agrowthof73.8% from the July 15th total of 236,800 shares. Based on an average daily volume of 401,700 shares, the days-to-cover ratio is presently 1.0 days. Approximately1.5% of the shares of the stock are sold short. Approximately1.5% of the shares of the stock are sold short. Based on an average daily volume of 401,700 shares, the days-to-cover ratio is presently 1.0 days.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Stoneridge currently has a consensus rating of "Buy" and a consensus target price of $16.00.

Institutional Inflows and Outflows

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

Stoneridge Trading Up 4.8%

SRI traded up $0.39 on Friday, hitting $8.51. The company had a trading volume of 239,797 shares, compared to its average volume of 353,955. Stoneridge has a 12-month low of $3.54 and a 12-month high of $14.85. The business's fifty day simple moving average is $7.43 and its 200 day simple moving average is $5.64. The company has a market cap of $238.37 million, a PE ratio of -7.88 and a beta of 1.44. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 0.63.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. The business had revenue of $227.95 million for the quarter, compared to analysts' expectations of $219.90 million. Equities research analysts expect 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.