Stoneridge, Inc. (NYSE:SRI) Short Interest Down 50.5% in January

Stoneridge, Inc. (NYSE:SRI) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 173,832 shares, a drop of 50.5% from the January 15th total of 351,476 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 154,447 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 154,447 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.6% of the company’s shares are short sold.

Stoneridge Stock Up 3.1%

Shares of SRI stock traded up $0.27 on Friday, hitting $8.85. The stock had a trading volume of 163,686 shares, compared to its average volume of 216,322. Stoneridge has a 52-week low of $3.54 and a 52-week high of $9.71. The firm has a market capitalization of $247.84 million, a price-to-earnings ratio of -7.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 2.13. The stock’s 50 day moving average is $6.50 and its 200-day moving average is $6.97.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Stoneridge

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its position in shares of Stoneridge by 3.3% during the fourth quarter. Marshall Wace LLP now owns 401,427 shares of the auto parts company’s stock worth $2,324,000 after buying an additional 12,932 shares in the last quarter. 22NW LP boosted its stake in Stoneridge by 4.1% during the 4th quarter. 22NW LP now owns 2,192,764 shares of the auto parts company’s stock valued at $12,696,000 after acquiring an additional 87,164 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Stoneridge during the 4th quarter worth $249,000. Jacobs Levy Equity Management Inc. increased its position in shares of Stoneridge by 46.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 256,291 shares of the auto parts company’s stock worth $1,484,000 after purchasing an additional 81,792 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Stoneridge by 2.6% in the 4th quarter. State Street Corp now owns 134,334 shares of the auto parts company’s stock valued at $778,000 after purchasing an additional 3,400 shares in the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

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.