Short Interest in Stoneridge, Inc. (NYSE:SRI) Drops By 19.1%

Stoneridge, Inc. (NYSE:SRI) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 185,100 shares, a decline of 19.1% from the December 15th total of 228,900 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 347,700 shares, the days-to-cover ratio is presently 0.5 days.

Stoneridge Stock Up 0.5 %

Shares of Stoneridge stock opened at $5.83 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $6.33 and its two-hundred day simple moving average is $10.53. Stoneridge has a one year low of $5.23 and a one year high of $19.34.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on SRI shares. Barrington Research restated an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research report on Thursday, October 31st. StockNews.com downgraded Stoneridge from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

Hedge Funds Weigh In On Stoneridge

A number of large investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of Stoneridge during the third quarter valued at approximately $44,000. US Bancorp DE purchased a new position in shares of Stoneridge during the third quarter valued at approximately $46,000. nVerses Capital LLC purchased a new position in shares of Stoneridge during the third quarter valued at approximately $59,000. Olympiad Research LP purchased a new position in shares of Stoneridge during the third quarter valued at approximately $121,000. Finally, Paloma Partners Management Co purchased a new position in shares of Stoneridge during the third quarter valued at approximately $139,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

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.