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

Stoneridge, Inc. (NYSE:SRI) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 365,300 shares, a decline of 18.9% from the February 28th total of 450,500 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 381,600 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

SRI has been the subject of several recent research reports. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a report on Saturday, March 29th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research note on Tuesday, March 4th.

Hedge Funds Weigh In On Stoneridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRI. State Street Corp boosted its holdings in shares of Stoneridge by 1.9% during the 3rd quarter. State Street Corp now owns 628,981 shares of the auto parts company’s stock worth $7,038,000 after buying an additional 11,929 shares during the period. JPMorgan Chase & Co. boosted its holdings in Stoneridge by 296.0% during the third quarter. JPMorgan Chase & Co. now owns 56,696 shares of the auto parts company’s stock valued at $634,000 after acquiring an additional 42,379 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Stoneridge by 27.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,736 shares of the auto parts company’s stock valued at $378,000 after purchasing an additional 7,332 shares during the last quarter. Barclays PLC increased its stake in shares of Stoneridge by 51.3% in the third quarter. Barclays PLC now owns 65,044 shares of the auto parts company’s stock worth $727,000 after purchasing an additional 22,052 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Stoneridge by 218.3% during the 3rd quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company’s stock worth $780,000 after purchasing an additional 47,829 shares during the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

Stoneridge Stock Performance

Shares of SRI opened at $4.77 on Thursday. The firm has a market cap of $132.11 million, a price-to-earnings ratio of -17.67 and a beta of 1.27. The company’s fifty day moving average is $4.89 and its 200-day moving average is $6.79. 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 12 month low of $4.11 and a 12 month high of $18.40.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The business had revenue of $218.20 million for the quarter, compared to analyst estimates of $207.61 million. Equities analysts expect that Stoneridge will post -0.42 EPS for the current fiscal year.

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.