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

Stoneridge, Inc. (NYSE:SRI) was the recipient of 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. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 335,300 shares, the days-to-cover ratio is presently 0.6 days.

Stoneridge Trading Up 2.0 %

Shares of NYSE SRI traded up $0.09 during midday trading on Monday, hitting $4.27. The stock had a trading volume of 217,303 shares, compared to its average volume of 230,759. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. Stoneridge has a fifty-two week low of $4.12 and a fifty-two week high of $18.85. The company’s 50-day simple moving average is $5.60 and its 200 day simple moving average is $8.83. The firm has a market cap of $118.10 million, a P/E ratio of -15.80 and a beta of 1.34.

Institutional Investors Weigh In On Stoneridge

A number of institutional investors have recently made changes to their positions in SRI. AYAL Capital Advisors Ltd grew its stake in shares of Stoneridge by 264.2% during the fourth 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 period. D. E. Shaw & Co. Inc. lifted its holdings in Stoneridge by 405.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 699,838 shares of the auto parts company’s stock worth $4,388,000 after acquiring an additional 561,488 shares in the last quarter. Raymond James Financial Inc. bought a new position in Stoneridge during the fourth quarter worth about $2,180,000. 22NW LP bought a new position in Stoneridge during the fourth quarter worth about $2,149,000. Finally, JPMorgan Chase & Co. lifted its holdings in Stoneridge by 380.6% during the fourth quarter. JPMorgan Chase & Co. now owns 272,460 shares of the auto parts company’s stock worth $1,708,000 after acquiring an additional 215,764 shares in the last quarter. 98.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SRI has been the subject of several research reports. StockNews.com cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research note 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.