Stellantis (NYSE:STLA) Shares Gap Down – What’s Next?

Stellantis (NYSE:STLA) gapped down prior to trading on Thursday . The stock had previously closed at $12.32, but opened at $11.99. Stellantis shares last traded at $11.96, with a volume of 1,409,723 shares trading hands.

Analyst Upgrades and Downgrades

STLA has been the subject of several recent research reports. TD Cowen initiated coverage on Stellantis in a report on Friday, March 7th. They issued a “hold” rating and a $13.00 price target for the company. Cowen started coverage on shares of Stellantis in a research note on Thursday, March 6th. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.47.

Stellantis Stock Down 3.1 %

The firm has a market capitalization of $36.08 billion, a price-to-earnings ratio of 3.50 and a beta of 1.64. The firm has a fifty day moving average price of $13.08 and a 200 day moving average price of $13.63. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Institutional Trading of Stellantis

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Stellantis by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company’s stock worth $1,099,842,000 after buying an additional 2,102,528 shares in the last quarter. Norges Bank acquired a new position in shares of Stellantis during the fourth quarter worth approximately $609,076,000. Marshall Wace LLP grew its stake in shares of Stellantis by 72,446.0% during the fourth quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock valued at $226,899,000 after purchasing an additional 17,376,176 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Stellantis by 24.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,245,300 shares of the company’s stock valued at $185,626,000 after purchasing an additional 2,839,709 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Stellantis by 34.3% in the 4th quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company’s stock worth $159,495,000 after purchasing an additional 3,121,462 shares during the last quarter. Institutional investors own 59.48% of the company’s stock.

About Stellantis

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.