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

Key Points

• Stoneridge, Inc. experienced a significant 43% decrease in short interest from July to August, with totals dropping from 411,500 shares to 234,400 shares.
• Institutional investors control 98.07% of Stoneridge’s stock, with notable investments including a 366.2% increase in holdings by GSA Capital Partners LLP.
• The company's stock declined 3.5% to $8.05, amid poor earnings results reporting a loss of $0.25 per share, falling short of estimates.

Stoneridge, Inc. (NYSE:SRI - Get Free Report) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 234,400 shares, adecreaseof43.0% from the July 31st total of 411,500 shares. Based on an average daily volume of 369,700 shares, the days-to-cover ratio is currently 0.6 days. Approximately0.9% of the company's stock are sold short. Approximately0.9% of the company's stock are sold short. Based on an average daily volume of 369,700 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Two Sigma Investments LP purchased a new stake in shares of Stoneridge in the fourth quarter valued at $698,000. Public Employees Retirement System of Ohio grew its holdings in shares of Stoneridge by 119.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company's stock valued at $247,000 after acquiring an additional 21,388 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Stoneridge by 366.2% during the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company's stock valued at $1,256,000 after acquiring an additional 214,888 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Stoneridge during the 4th quarter valued at $165,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Stoneridge by 78.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company's stock valued at $408,000 after purchasing an additional 39,028 shares in the last quarter. Institutional investors own 98.07% of the company's stock.

Stoneridge Stock Down 3.5%

NYSE:SRI traded down $0.29 during mid-day trading on Friday, hitting $8.05. The company had a trading volume of 159,017 shares, compared to its average volume of 215,203. 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 business has a fifty day simple moving average of $7.85 and a 200-day simple moving average of $5.91. The firm has a market capitalization of $225.45 million, a price-to-earnings ratio of -7.45 and a beta of 1.50. Stoneridge has a 1 year low of $3.54 and a 1 year high of $13.18.

Stoneridge (NYSE:SRI - Get Free Report) last released its earnings results 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). Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%.The company had revenue of $227.95 million during the quarter, compared to the consensus estimate of $219.90 million. Equities analysts forecast that Stoneridge will post -0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have 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 reaffirmed an "outperform" rating and issued a $16.00 target price on shares of Stoneridge in a report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $16.00.

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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