10 Best Short-Term Stocks To Buy Right Now

6. Stoneridge, Inc. (NYSE:SRI)

Last 52 weeks return: -70%

Last 1 month’s return: 17.33%

No. of hedge fund portfolios: 23

Stoneridge, Inc. (NYSE:SRI), based in Novi, Michigan, is a global manufacturer of advanced electrical and electronic components for automotive markets. The company develops cutting-edge systems such as digital instrument clusters and telematics solutions. It places importance on smart mobility innovations, thus competing with market giants like Bosch and Continental. The company specializes in increasing vehicle performance through intelligent safety and connectivity solutions.

Stoneridge, Inc. (NYSE:SRI) has been under pressure, shedding 70% of its value in the last 52 weeks. The decline was the result of a decrease in revenue caused by a fall in sales in all the South American end markets because of continued macroeconomic challenges. Additionally, the investors noted that the unfavorable translation of foreign currency was heavily affecting the company’s returns, causing its value to plummet.

However, a 17.33% jump over the past month points to a positive shift in sentiment. MirrorEye and the Smart 2 tachograph, the two specific growth drivers of the company during the year, have helped offset a portion of the market headwinds to drive market outperformance. Jim Zizelman, president and chief executive officer, made the following comment concerning their future endeavor.

“We are focused on overall cost structure, as evidenced by our recent actions to delay certain corporate functions and streamline our operations in manufacturing facilities, reducing costs and improving operational efficiency.”

The statement reflects Stoneridge, Inc. (NYSE:SRI)’s commitment to reducing costs, thereby increasing its performance against market headwinds. The 20-day SMA has increased slightly by 2.18%, while the 200-day SMA remains deep in negative territory at -50.32%.

The company’s stocks are backed by 23 hedge fund portfolios from Insider Monkey’s Q4 2024 database, suggesting institutional interest that may support its recent upward momentum and entry into our best short-term stocks.