Short Interest in Stoneridge, Inc. (NYSE:SRI) Decreases By 24.6%

Stoneridge, Inc. (NYSE:SRI - Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 252,100 shares, a decrease of 24.6% from the November 15th total of 334,500 shares. Based on an average daily trading volume, of 313,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.9% of the company's stock are short sold.

Institutional Investors Weigh In On Stoneridge

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Stoneridge by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company's stock valued at $181,000 after acquiring an additional 1,226 shares during the period. XTX Topco Ltd lifted its position in Stoneridge by 25.7% during the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company's stock valued at $155,000 after purchasing an additional 2,833 shares during the period. Rhumbline Advisers boosted its holdings in Stoneridge by 7.6% in the second quarter. Rhumbline Advisers now owns 47,251 shares of the auto parts company's stock valued at $754,000 after purchasing an additional 3,353 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Stoneridge by 2.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 178,248 shares of the auto parts company's stock worth $1,995,000 after purchasing an additional 3,748 shares during the period. Finally, Quarry LP purchased a new position in shares of Stoneridge during the 3rd quarter valued at about $44,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Stock Down 1.6 %

Shares of SRI stock traded down $0.11 during mid-day trading on Friday, hitting $6.56. 95,832 shares of the stock traded hands, compared to its average volume of 179,796. The stock's fifty day moving average is $7.87 and its two-hundred day moving average is $12.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. Stoneridge has a 52-week low of $5.89 and a 52-week high of $19.91. The stock has a market cap of $181.65 million, a P/E ratio of -24.70 and a beta of 1.34.

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Stoneridge in a research report on Thursday, October 31st. StockNews.com lowered shares of Stoneridge from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th.

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.