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

Stoneridge, Inc. (NYSE:SRI) was the recipient of a significant increase in short interest in 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. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 335,300 shares, the days-to-cover ratio is currently 0.6 days.

Stoneridge Stock Up 2.0 %

Shares of NYSE:SRI opened at $4.27 on Monday. Stoneridge has a 52-week low of $4.12 and a 52-week high of $18.85. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $5.60 and a 200 day simple moving average of $8.83.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SRI shares. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Stoneridge in a research note on Thursday, October 31st. StockNews.com downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

Institutional Trading of Stoneridge

Hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its position in Stoneridge by 0.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,035,643 shares of the auto parts company’s stock worth $33,969,000 after purchasing an additional 24,548 shares during the period. Cooper Creek Partners Management LLC grew its position in shares of Stoneridge by 0.7% in the fourth quarter. Cooper Creek Partners Management LLC now owns 1,442,314 shares of the auto parts company’s stock valued at $9,043,000 after purchasing an additional 9,829 shares during the last quarter. Royce & Associates LP increased its stake in shares of Stoneridge by 12.3% during the third quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock worth $15,185,000 after purchasing an additional 148,461 shares during the period. AYAL Capital Advisors Ltd lifted its holdings in Stoneridge by 264.2% during the 4th quarter. AYAL Capital Advisors Ltd now owns 923,494 shares of the auto parts company’s stock worth $5,790,000 after purchasing an additional 669,935 shares during the last quarter. Finally, State Street Corp boosted its stake in Stoneridge by 1.9% in the 3rd quarter. State Street Corp now owns 628,981 shares of the auto parts company’s stock valued at $7,038,000 after purchasing an additional 11,929 shares during the period. 98.07% of the stock is owned by institutional investors and hedge funds.

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.