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

Stoneridge, Inc. (NYSE:SRI - Get Free Report) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 547,900 shares, an increase of 18.3% from the April 30th total of 463,200 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 374,000 shares, the short-interest ratio is currently 1.5 days.

Stoneridge Trading Up 1.3%

SRI stock traded up $0.07 during midday trading on Wednesday, reaching $5.40. 190,635 shares of the company traded hands, compared to its average volume of 285,420. Stoneridge has a 52-week low of $3.54 and a 52-week high of $18.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The business has a 50 day moving average of $4.41 and a 200-day moving average of $5.16. The firm has a market capitalization of $150.37 million, a price-to-earnings ratio of -20.00 and a beta of 1.22.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The company had revenue of $217.89 million for the quarter, compared to analysts' expectations of $212.42 million. As a group, sell-side analysts expect that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SRI has been the subject of a number of research reports. Barrington Research reissued an "outperform" rating and set a $16.00 price target on shares of Stoneridge in a research note on Thursday, May 1st. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th.

Institutional Investors Weigh In On Stoneridge

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Stoneridge by 4.9% in the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company's stock worth $304,000 after buying an additional 2,274 shares during the period. Geode Capital Management LLC raised its holdings in shares of Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company's stock worth $3,882,000 after buying an additional 2,543 shares during the period. US Bancorp DE raised its holdings in shares of Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company's stock worth $43,000 after buying an additional 2,679 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Stoneridge by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock worth $100,000 after buying an additional 3,490 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of Stoneridge in the fourth quarter worth approximately $25,000. 98.07% of the stock is currently owned by hedge funds and other institutional investors.

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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