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

Stoneridge, Inc. (NYSE:SRI) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 319,727 shares, an increase of 83.9% from the January 29th total of 173,832 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average trading volume of 294,566 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 294,566 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Stoneridge

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in shares of Stoneridge during the 1st quarter valued at $39,000. Quadrature Capital Ltd bought a new position in shares of Stoneridge in the fourth quarter worth $61,000. NewEdge Advisors LLC acquired a new position in Stoneridge in the fourth quarter valued at about $62,000. WINTON GROUP Ltd bought a new stake in Stoneridge during the fourth quarter worth about $69,000. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Stoneridge during the second quarter worth about $70,000. Institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Performance

Shares of NYSE:SRI traded up $0.03 on Friday, reaching $7.82. 151,284 shares of the company’s stock were exchanged, compared to its average volume of 203,720. Stoneridge has a twelve month low of $3.54 and a twelve month high of $9.71. The company has a fifty day moving average of $6.96 and a 200-day moving average of $7.01. The company has a market capitalization of $219.12 million, a price-to-earnings ratio of -6.74 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SRI. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Stoneridge in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Stoneridge currently has a consensus rating of “Hold” and a consensus target price of $16.00.

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.