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

Stellantis (NYSE:STLA) shares gapped up prior to trading on Wednesday . The stock had previously closed at $11.80, but opened at $12.58. Stellantis shares last traded at $12.62, with a volume of 4,731,116 shares.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI started coverage on Stellantis in a report on Monday, November 11th. They issued an “inline” rating on the stock. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.34.

Stellantis Trading Up 6.1 %

The stock has a market capitalization of $37.83 billion, a PE ratio of 3.67 and a beta of 1.58. 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 business’s 50-day moving average is $13.12 and its two-hundred day moving average is $13.77.

Institutional Investors Weigh In On Stellantis

Several institutional investors and hedge funds have recently modified their holdings of STLA. FMR LLC lifted its position in Stellantis by 4.9% during the 3rd quarter. FMR LLC now owns 3,137,594 shares of the company’s stock worth $44,083,000 after acquiring an additional 145,583 shares in the last quarter. Four Tree Island Advisory LLC acquired a new position in shares of Stellantis during the fourth quarter worth $2,019,000. World Investment Advisors LLC purchased a new position in shares of Stellantis in the third quarter valued at $1,324,000. Sound Income Strategies LLC grew its holdings in Stellantis by 13.4% during the 4th quarter. Sound Income Strategies LLC now owns 317,637 shares of the company’s stock valued at $4,145,000 after purchasing an additional 37,627 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its stake in Stellantis by 28.3% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 537,996 shares of the company’s stock worth $7,408,000 after buying an additional 118,635 shares during the period. Hedge funds and other institutional investors 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.