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

Shares of Stellantis (NYSE:STLA) gapped down before the market opened on Tuesday . The stock had previously closed at $13.37, but opened at $12.93. Stellantis shares last traded at $12.82, with a volume of 1,933,711 shares traded.

Wall Street Analysts Forecast Growth

STLA has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of Stellantis in a research report on Monday, November 11th. They set an “inline” rating on the stock. Nomura raised shares of Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group reissued a “hold” rating and issued a $16.44 target price (down previously from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. Barclays cut shares of Stellantis from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.34.

Stellantis Trading Down 4.6 %

The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average is $13.73 and its 200 day moving average is $17.16.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its stake in Stellantis by 0.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock worth $194,755,000 after purchasing an additional 43,159 shares during the period. AustralianSuper Pty Ltd boosted its stake in Stellantis by 26.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company’s stock worth $125,597,000 after purchasing an additional 1,894,146 shares during the period. Conifer Management L.L.C. boosted its stake in Stellantis by 26.4% in the 3rd quarter. Conifer Management L.L.C. now owns 9,000,000 shares of the company’s stock worth $126,450,000 after purchasing an additional 1,880,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in Stellantis by 19.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,925,189 shares of the company’s stock worth $177,163,000 after purchasing an additional 1,425,814 shares during the period. Finally, Dnca Finance acquired a new position in Stellantis in the 2nd quarter worth approximately $75,331,000. Institutional investors and hedge funds own 59.48% of the company’s stock.

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.