Stoneridge, Inc. (NYSE:SRI) Short Interest Down 19.1% in January

Stoneridge, Inc. (NYSE:SRI) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 185,100 shares, a drop of 19.1% from the December 31st total of 228,900 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 347,700 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a report on Thursday, October 31st.

Stoneridge Stock Performance

Stoneridge stock traded up $0.19 during mid-day trading on Thursday, reaching $5.29. 3,838 shares of the company’s stock were exchanged, compared to its average volume of 197,076. The business’s fifty day simple moving average is $6.14 and its 200 day simple moving average is $9.93. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. Stoneridge has a one year low of $5.02 and a one year high of $19.34. The firm has a market capitalization of $146.48 million, a PE ratio of -19.59 and a beta of 1.35.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). The company had revenue of $213.80 million for the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, sell-side analysts expect that Stoneridge will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Stoneridge in the 3rd quarter worth approximately $44,000. US Bancorp DE bought a new stake in Stoneridge in the third quarter worth $46,000. nVerses Capital LLC purchased a new stake in Stoneridge during the third quarter valued at about $59,000. Olympiad Research LP bought a new position in shares of Stoneridge during the third quarter valued at about $121,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Stoneridge by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock worth $181,000 after buying an additional 1,226 shares during the period. Institutional investors own 98.07% of the company’s stock.

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.