Short Interest in Stoneridge, Inc. (NYSE:SRI) Grows By 38.8%

Stoneridge, Inc. (NYSE:SRI - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 507,200 shares, an increase of 38.8% from the March 15th total of 365,300 shares. Based on an average trading volume of 355,700 shares, the short-interest ratio is presently 1.4 days. Approximately 1.9% of the shares of the company are sold short.

Stoneridge Stock Performance

NYSE SRI traded up $0.14 during trading on Thursday, reaching $3.96. The company's stock had a trading volume of 36,691 shares, compared to its average volume of 326,945. The business's fifty day moving average price is $4.58 and its 200-day moving average price is $5.98. Stoneridge has a twelve month low of $3.54 and a twelve month high of $18.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The firm has a market cap of $110.27 million, a price-to-earnings ratio of -14.67 and a beta of 1.26.

Stoneridge (NYSE:SRI - Get Free Report) last posted 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 company had revenue of $218.20 million for the quarter, compared to analysts' expectations of $207.61 million. As a group, analysts anticipate that Stoneridge will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Stoneridge

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in shares of Stoneridge by 4.9% in the fourth quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company's stock valued at $304,000 after acquiring an additional 2,274 shares in the last quarter. Geode Capital Management LLC lifted its position in Stoneridge by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company's stock valued at $3,882,000 after purchasing an additional 2,543 shares during the period. US Bancorp DE boosted its holdings in Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company's stock valued at $43,000 after purchasing an additional 2,679 shares in the last quarter. XTX Topco Ltd increased its position in Stoneridge by 25.7% during the 3rd quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company's stock worth $155,000 after purchasing an additional 2,833 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Stoneridge by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock worth $100,000 after buying an additional 3,490 shares in the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SRI shares. Barrington Research reiterated an "outperform" rating and set a $16.00 target price on shares of Stoneridge in a research report on Tuesday, March 4th. StockNews.com raised Stoneridge from a "hold" rating to a "buy" rating in a research report on Saturday, March 29th.

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.