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

Stoneridge, Inc. (NYSE:SRI) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 921,578 shares, a growth of 100.9% from the June 15th total of 458,810 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 576,372 shares, the short-interest ratio is presently 1.6 days.

Stoneridge Stock Down 3.7%

Shares of SRI traded down $0.27 during trading hours on Friday, hitting $6.99. 133,694 shares of the company were exchanged, compared to its average volume of 232,945. The company has a market cap of $197.26 million, a PE ratio of -1.58 and a beta of 1.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.02. The firm’s 50 day moving average is $7.26 and its 200-day moving average is $6.86. Stoneridge has a 52 week low of $4.60 and a 52 week high of $9.71.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.76). The firm had revenue of $160.85 million for the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative return on equity of 22.50% and a negative net margin of 15.24%. On average, equities research analysts forecast that Stoneridge will post -0.74 EPS for the current fiscal year.

Insider Activity

In other Stoneridge news, Director Ira C. Kaplan acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $7.54 per share, for a total transaction of $37,700.00. Following the completion of the purchase, the director directly owned 100,046 shares in the company, valued at $754,346.84. The trade was a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William M. Lasky purchased 5,000 shares of Stoneridge stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $7.46 per share, with a total value of $37,300.00. Following the acquisition, the director owned 192,666 shares of the company’s stock, valued at approximately $1,437,288.36. This trade represents a 2.66% increase in their position. The SEC filing for this purchase provides additional information. 11.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Stoneridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio bought a new position in Stoneridge during the first quarter worth about $39,000. Quadrature Capital Ltd acquired a new position in shares of Stoneridge in the 4th quarter worth approximately $61,000. NewEdge Advisors LLC bought a new position in shares of Stoneridge during the 4th quarter worth approximately $62,000. WINTON GROUP Ltd bought a new position in shares of Stoneridge during the 4th quarter worth approximately $69,000. Finally, Jain Global LLC acquired a new stake in Stoneridge in the 4th quarter valued at $77,000. 98.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SRI. Zacks Research downgraded Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Stoneridge currently has a consensus rating of “Sell” and an average price target of $16.00.

Stoneridge Company Profile

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.