Short Interest in Stoneridge, Inc. (NYSE:SRI) Grows By 14.8%

Stoneridge, Inc. (NYSE:SRI) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 201,300 shares, an increase of 14.8% from the January 15th total of 175,400 shares. Based on an average daily volume of 335,300 shares, the short-interest ratio is presently 0.6 days. Currently, 0.8% of the company’s stock are short sold.

Stoneridge Stock Performance

SRI traded up $0.09 during midday trading on Monday, reaching $4.27. The company’s stock had a trading volume of 217,303 shares, compared to its average volume of 230,759. The stock has a market cap of $118.10 million, a P/E ratio of -15.80 and a beta of 1.34. The company has a fifty day simple moving average of $5.60 and a 200 day simple moving average of $8.83. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72. Stoneridge has a twelve month low of $4.12 and a twelve month high of $18.85.

Institutional Trading of Stoneridge

A number of hedge funds have recently modified their holdings of SRI. Federated Hermes Inc. bought a new stake in shares of Stoneridge in the 4th quarter worth approximately $25,000. US Bancorp DE lifted its position in shares of Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 2,679 shares during the period. Quarry LP bought a new stake in shares of Stoneridge in the 3rd quarter worth approximately $44,000. nVerses Capital LLC bought a new position in shares of Stoneridge during the 3rd quarter worth approximately $59,000. Finally, SG Americas Securities LLC bought a new position in shares of Stoneridge during the 4th quarter worth approximately $74,000. Institutional investors own 98.07% of the company’s stock.

Analyst Ratings Changes

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

About Stoneridge

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.