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

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

Institutional Trading of Stoneridge

Several large investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Stoneridge by 285.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 518,105 shares of the auto parts company’s stock worth $3,948,000 after acquiring an additional 383,805 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Stoneridge by 213.7% during the first quarter. AQR Capital Management LLC now owns 533,470 shares of the auto parts company’s stock valued at $2,449,000 after purchasing an additional 363,407 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Stoneridge by 50.4% during the second quarter. Federated Hermes Inc. now owns 1,062,490 shares of the auto parts company’s stock worth $7,480,000 after purchasing an additional 356,143 shares during the last quarter. 22NW LP grew its holdings in shares of Stoneridge by 19.4% during the second quarter. 22NW LP now owns 1,943,508 shares of the auto parts company’s stock worth $13,682,000 after purchasing an additional 315,855 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Stoneridge by 340.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 256,791 shares of the auto parts company’s stock valued at $1,487,000 after buying an additional 198,423 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

Analysts Set New Price Targets

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

Stoneridge Price Performance

SRI stock traded up $0.03 during midday trading on Friday, reaching $7.82. The company had a trading volume of 151,284 shares, compared to its average volume of 205,928. Stoneridge has a 1-year low of $3.54 and a 1-year high of $9.71. The stock has a 50 day moving average price of $6.96 and a 200-day moving average price of $7.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.13 and a quick ratio of 1.33. The company has a market capitalization of $219.12 million, a price-to-earnings ratio of -6.74 and a beta of 1.45.

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.