Stoneridge, Inc. (NYSE:SRI) Short Interest Up 27.0% in February

Stoneridge, Inc. (NYSE:SRI) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 450,500 shares, an increase of 27.0% from the February 13th total of 354,600 shares. Based on an average daily volume of 378,700 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.7% of the company’s stock are short sold.

Stoneridge Stock Down 3.2 %

Shares of NYSE:SRI traded down $0.16 during mid-day trading on Tuesday, reaching $4.99. 255,859 shares of the stock were exchanged, compared to its average volume of 245,442. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The company has a market cap of $138.09 million, a P/E ratio of -18.47 and a beta of 1.27. Stoneridge has a one year low of $4.11 and a one year high of $18.57. The stock’s 50 day simple moving average is $5.06 and its 200-day simple moving average is $7.43.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). The firm had revenue of $218.20 million for the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. As a group, equities research analysts predict that Stoneridge will post -0.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in Stoneridge by 119.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 39,324 shares of the auto parts company’s stock valued at $247,000 after purchasing an additional 21,388 shares in the last quarter. PharVision Advisers LLC bought a new position in Stoneridge in the fourth quarter valued at approximately $392,000. Squarepoint Ops LLC grew its stake in Stoneridge by 244.5% in the fourth quarter. Squarepoint Ops LLC now owns 44,071 shares of the auto parts company’s stock valued at $276,000 after purchasing an additional 31,278 shares in the last quarter. Two Sigma Advisers LP bought a new position in Stoneridge in the fourth quarter valued at approximately $165,000. Finally, Two Sigma Investments LP bought a new position in Stoneridge in the fourth quarter valued at approximately $698,000. 98.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SRI. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research report on Tuesday, March 4th. StockNews.com lowered Stoneridge from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th.

Stoneridge Company Profile

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.