Stoneridge, Inc. (NYSE:SRI) Short Interest Up 73.8% in July

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) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 411,500 shares, anincreaseof73.8% from the July 15th total of 236,800 shares. Approximately1.5% of the shares of the company are sold short. Based on an average daily volume of 401,700 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 401,700 shares, the short-interest ratio is presently 1.0 days. Approximately1.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Stoneridge

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in shares of Stoneridge by 211.0% in the second 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 period. Man Group plc boosted its position in shares of Stoneridge by 170.1% in the second quarter. Man Group plc now owns 242,253 shares of the auto parts company's stock worth $1,705,000 after purchasing an additional 152,547 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Stoneridge by 64.2% in the second quarter. BNP Paribas Financial Markets now owns 102,359 shares of the auto parts company's stock worth $721,000 after purchasing an additional 40,013 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of 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 purchasing an additional 17,000 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in shares of Stoneridge in the second quarter worth approximately $365,000. 98.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SRI has been the topic of a number of research analyst reports. Barrington Research restated an "outperform" rating and set a $16.00 price objective on shares of Stoneridge in a research report on Monday, August 4th. Wall Street Zen raised shares of Stoneridge from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th.

Stoneridge Stock Performance

NYSE SRI traded down $0.13 on Monday, hitting $7.74. 195,541 shares of the company traded hands, compared to its average volume of 378,125. The business's 50 day moving average price is $7.27 and its 200-day moving average price is $5.55. Stoneridge has a 52-week low of $3.54 and a 52-week high of $14.85. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $216.66 million, a price-to-earnings ratio of -7.16 and a beta of 1.44.

Stoneridge (NYSE:SRI - Get Free Report) last released its quarterly 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 company had revenue of $227.95 million for the quarter, compared to the consensus estimate of $219.90 million. Equities analysts expect that Stoneridge will post -0.42 earnings per share for the current year.

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.

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