Stoneridge, Inc. (NYSE:SRI) Sees Significant Increase in Short Interest

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

Stoneridge Stock Performance

Shares of SRI stock traded up $0.37 during trading hours on Friday, reaching $5.65. 213,444 shares of the company's stock were exchanged, compared to its average volume of 286,691. The company has a market cap of $157.19 million, a P/E ratio of -20.91 and a beta of 1.32. The company's 50 day moving average is $4.44 and its two-hundred day moving average is $5.15. Stoneridge has a 1 year low of $3.54 and a 1 year high of $18.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40.

Stoneridge (NYSE:SRI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) 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 analyst estimates of $212.42 million. Equities research analysts anticipate that Stoneridge will post -0.42 EPS for the current fiscal year.

Institutional Trading of Stoneridge

A number of hedge funds and other institutional investors have recently modified their holdings of SRI. Rhumbline Advisers boosted its stake in Stoneridge by 4.9% in the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company's stock valued at $304,000 after acquiring an additional 2,274 shares during the period. Geode Capital Management LLC boosted its stake in Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company's stock valued at $3,882,000 after acquiring an additional 2,543 shares during the period. US Bancorp DE boosted its stake in Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company's stock valued at $43,000 after acquiring an additional 2,679 shares during the period. Wells Fargo & Company MN boosted its position in shares of Stoneridge by 27.9% during 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. acquired a new position in shares of Stoneridge during the fourth quarter worth approximately $25,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SRI shares. Wall Street Zen upgraded Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a report on Thursday, May 1st.

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.