Stoneridge (NYSE:SRI) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Stoneridge, Inc. (NYSE:SRI - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.13 and traded as high as $8.01. Stoneridge shares last traded at $7.97, with a volume of 250,421 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SRI shares. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research report on Wednesday, June 18th.

Stoneridge Trading Up 3.0%

The stock has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $5.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.52 and a current ratio of 2.39. The firm has a market cap of $223.36 million, a PE ratio of -12.53 and a beta of 1.42.

Stoneridge (NYSE:SRI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). Stoneridge had a negative return on equity of 4.66% and a negative net margin of 1.98%. The business had revenue of $217.89 million during the quarter, compared to analysts' expectations of $212.42 million. As a group, sell-side analysts anticipate that Stoneridge, Inc. will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Stoneridge

A number of hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in shares of Stoneridge during the 4th quarter valued at about $25,000. GAMMA Investing LLC increased its position in shares of Stoneridge by 2,684.5% during the 1st quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock valued at $29,000 after purchasing an additional 6,067 shares during the last quarter. Strs Ohio purchased a new stake in shares of Stoneridge during the 1st quarter valued at about $39,000. US Bancorp DE increased its position in shares of Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company's stock valued at $43,000 after purchasing an additional 2,679 shares during the last quarter. Finally, CWM LLC increased its position in shares of Stoneridge by 580.6% during the 1st quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock valued at $59,000 after purchasing an additional 10,961 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

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.