Stoneridge, Inc. (NYSE:SRI) Sees Large Decrease in Short Interest

Stoneridge, Inc. (NYSE:SRI) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 173,832 shares, a drop of 50.5% from the January 15th total of 351,476 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 154,447 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 154,447 shares, the short-interest ratio is currently 1.1 days. Currently, 0.6% of the company’s stock are short sold.

Analyst Ratings Changes

SRI has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a research report on Monday, December 29th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Stoneridge has an average rating of “Hold” and an average target price of $16.00.

Stoneridge Stock Performance

Shares of SRI stock traded up $0.27 during mid-day trading on Friday, reaching $8.85. The stock had a trading volume of 163,686 shares, compared to its average volume of 216,322. Stoneridge has a 1-year low of $3.54 and a 1-year high of $9.71. The firm has a market cap of $247.86 million, a price-to-earnings ratio of -7.63 and a beta of 1.51. The company has a current ratio of 2.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average is $6.50 and its 200-day moving average is $6.96.

Institutional Trading of Stoneridge

Large investors have recently made changes to their positions in the business. Strs Ohio acquired a new position in Stoneridge during the first quarter valued at $39,000. WINTON GROUP Ltd acquired a new stake in Stoneridge during the 4th quarter worth about $69,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Stoneridge during the 2nd quarter valued at about $70,000. R Squared Ltd acquired a new position in shares of Stoneridge in the 2nd quarter valued at about $80,000. Finally, Savant Capital LLC acquired a new position in shares of Stoneridge in the 2nd quarter valued at about $87,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

About Stoneridge

Stoneridge, Inc (NYSE: SRI) is a global developer and manufacturer of highly engineered electrical and electronic components for the automotive and commercial vehicle markets. The company’s product offerings span a range of safety, convenience and control systems, delivering tailored solutions that help original equipment manufacturers (OEMs) meet increasingly stringent regulatory and performance requirements.

Among Stoneridge’s core products are rearview and side-view mirror systems, camera-based advanced driver assistance systems (ADAS) and interior and exterior lighting solutions.