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

Stoneridge, Inc. (NYSE:SRI) was the recipient 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. Currently, 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 313,000 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Stoneridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Stoneridge in the third quarter worth approximately $44,000. US Bancorp DE purchased a new position in shares of Stoneridge during the 3rd quarter valued at $46,000. nVerses Capital LLC bought a new position in Stoneridge in the 3rd quarter worth $59,000. Olympiad Research LP purchased a new stake in Stoneridge in the 3rd quarter worth $121,000. Finally, Paloma Partners Management Co bought a new stake in Stoneridge during the third quarter valued at about $139,000. Institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Performance

Shares of SRI stock traded down $0.12 during mid-day trading on Friday, reaching $6.55. 281,240 shares of the company’s stock traded hands, compared to its average volume of 180,583. 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 capitalization of $181.37 million, a PE ratio of -24.26 and a beta of 1.34. Stoneridge has a 12 month low of $5.89 and a 12 month high of $19.91. The firm has a 50 day moving average price of $7.81 and a two-hundred day moving average price of $12.14.

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