Stoneridge (NYSE:SRI) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Stoneridge, Inc. (NYSE:SRI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.89 and traded as high as $7.44. Stoneridge shares last traded at $7.43, with a volume of 144,127 shares trading hands.

Analyst Ratings Changes

Several analysts recently issued reports on SRI shares. Zacks Research downgraded shares of Stoneridge from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stoneridge in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Stoneridge has a consensus rating of “Sell” and an average target price of $16.00.

Stoneridge Stock Performance

The firm has a 50 day moving average of $7.25 and a two-hundred day moving average of $6.89. The stock has a market cap of $209.82 million, a P/E ratio of -1.68 and a beta of 1.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 2.02.

Stoneridge (NYSE:SRI) last released its earnings results on Thursday, May 7th. The auto parts company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.76). The business had revenue of $160.85 million during the quarter, compared to analyst estimates of $139.00 million. Stoneridge had a negative net margin of 15.24% and a negative return on equity of 22.50%. On average, research analysts predict that Stoneridge, Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity at Stoneridge

In related news, Director Ira C. Kaplan bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $7.54 per share, with a total value of $37,700.00. Following the completion of the transaction, the director owned 100,046 shares of the company’s stock, valued at $754,346.84. The trade was a 5.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William M. Lasky purchased 5,000 shares of Stoneridge stock in a transaction on Friday, June 12th. The stock was bought at an average cost of $7.46 per share, with a total value of $37,300.00. Following the completion of the acquisition, the director owned 192,666 shares in the company, valued at approximately $1,437,288.36. This trade represents a 2.66% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 11.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Stoneridge in the first quarter valued at about $39,000. Quadrature Capital Ltd acquired a new stake in Stoneridge during the fourth quarter worth about $61,000. NewEdge Advisors LLC bought a new position in Stoneridge during the fourth quarter valued at about $62,000. WINTON GROUP Ltd bought a new position in Stoneridge during the fourth quarter valued at about $69,000. Finally, Jain Global LLC acquired a new position in Stoneridge in the 4th quarter valued at approximately $77,000. Institutional investors and hedge funds own 98.07% of the company’s stock.

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.