Stoneridge (NYSE:SRI) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Stoneridge, Inc. (NYSE:SRI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.13 and traded as high as $8.01. Stoneridge shares last traded at $7.97, with a volume of 250,421 shares trading hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Stoneridge in a research report on Wednesday, June 18th. Wall Street Zen raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th.

Stoneridge Price Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.52 and a current ratio of 2.39. The stock’s 50-day moving average is $5.40 and its two-hundred day moving average is $5.13. The stock has a market cap of $221.96 million, a PE ratio of -12.45 and a beta of 1.42.

Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). Stoneridge had a negative return on equity of 4.66% and a negative net margin of 1.98%. The firm had revenue of $217.89 million for the quarter, compared to analyst estimates of $212.42 million. On average, equities analysts predict that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On Stoneridge

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in Stoneridge in the 4th quarter valued at about $25,000. GAMMA Investing LLC boosted its stake in shares of Stoneridge by 2,684.5% in the first quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company’s stock valued at $29,000 after purchasing an additional 6,067 shares during the period. Strs Ohio purchased a new position in shares of Stoneridge in the first quarter valued at approximately $39,000. US Bancorp DE grew its holdings in shares of Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 2,679 shares in the last quarter. Finally, CWM LLC increased its stake in Stoneridge by 580.6% during the 1st quarter. CWM LLC now owns 12,849 shares of the auto parts company’s stock worth $59,000 after buying an additional 10,961 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.