Stoneridge, Inc. (NYSE:SRI) Sees Significant Growth in Short Interest

Stoneridge, Inc. (NYSE:SRI - Get Free Report) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 450,500 shares, an increase of 27.0% from the February 13th total of 354,600 shares. Based on an average trading volume of 378,700 shares, the short-interest ratio is presently 1.2 days. Approximately 1.7% of the company's shares are sold short.

Stoneridge Stock Down 5.2 %

Stoneridge stock traded down $0.28 during mid-day trading on Friday, hitting $5.04. The company had a trading volume of 363,572 shares, compared to its average volume of 248,276. Stoneridge has a 12 month low of $4.11 and a 12 month high of $18.57. The company has a market capitalization of $139.44 million, a PE ratio of -18.65 and a beta of 1.27. The stock's 50 day moving average price is $5.03 and its two-hundred day moving average price is $7.33. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.81% and a negative return on equity of 0.42%. The firm had revenue of $218.20 million for the quarter, compared to analysts' expectations of $207.61 million. As a group, sell-side analysts anticipate that Stoneridge will post -0.42 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRI. Thrivent Financial for Lutherans increased its position in Stoneridge by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,035,643 shares of the auto parts company's stock worth $33,969,000 after buying an additional 24,548 shares in the last quarter. Cooper Creek Partners Management LLC increased its holdings in Stoneridge by 0.7% in the 4th quarter. Cooper Creek Partners Management LLC now owns 1,442,314 shares of the auto parts company's stock worth $9,043,000 after acquiring an additional 9,829 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. raised its stake in Stoneridge by 1.4% during the 4th quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,224,273 shares of the auto parts company's stock worth $7,676,000 after acquiring an additional 16,833 shares during the period. Millennium Management LLC lifted its holdings in Stoneridge by 440.8% during the fourth quarter. Millennium Management LLC now owns 926,540 shares of the auto parts company's stock valued at $5,809,000 after purchasing an additional 755,223 shares in the last quarter. Finally, AYAL Capital Advisors Ltd lifted its holdings in Stoneridge by 264.2% during the fourth quarter. AYAL Capital Advisors Ltd now owns 923,494 shares of the auto parts company's stock valued at $5,790,000 after purchasing an additional 669,935 shares in the last quarter. Institutional investors own 98.07% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on SRI. Barrington Research restated an "outperform" rating and issued a $16.00 price objective on shares of Stoneridge in a report on Tuesday, March 4th. StockNews.com downgraded shares of Stoneridge from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th.

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.