Stellantis (NYSE:STLA) Shares Gap Down – Here’s Why

Stellantis (NYSE:STLA) gapped down before the market opened on Friday . The stock had previously closed at $12.78, but opened at $12.49. Stellantis shares last traded at $12.47, with a volume of 1,149,621 shares traded.

Analysts Set New Price Targets

Several research firms have weighed in on STLA. Evercore ISI began coverage on shares of Stellantis in a research report on Monday, November 11th. They issued an “inline” rating for the company. Barclays cut shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.34.

Stellantis Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. The company has a 50-day moving average price of $13.23 and a 200-day moving average price of $15.39. The firm has a market capitalization of $39.25 billion, a P/E ratio of 4.11, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60.

Institutional Trading of Stellantis

Institutional investors and hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division boosted its stake in Stellantis by 160.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock worth $85,000 after acquiring an additional 4,000 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Stellantis by 74.7% during the third quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company’s stock worth $102,340,000 after purchasing an additional 3,252,492 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Stellantis in the 3rd quarter valued at $1,324,000. Te Ahumairangi Investment Management Ltd increased its position in shares of Stellantis by 28.3% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 537,996 shares of the company’s stock valued at $7,408,000 after buying an additional 118,635 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in Stellantis by 5.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 181,148 shares of the company’s stock worth $2,552,000 after buying an additional 8,988 shares during the period. 59.48% of the stock is owned by institutional investors.

Stellantis Company Profile

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, mobility services, and production systems worldwide. It provides luxury and premium vehicles; sport utility vehicles; American and European brand vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.