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

Stellantis (NYSE:STLA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.39, but opened at $12.91. Stellantis shares last traded at $12.86, with a volume of 1,112,759 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on STLA shares. Jefferies Financial Group reissued a “hold” rating and issued a $16.44 price objective (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Nomura Securities upgraded shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reiterated a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. Finally, Wolfe Research restated a “peer perform” rating on shares of Stellantis in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.34.

Stellantis Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $13.85 and a two-hundred day moving average price of $17.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Freestone Capital Holdings LLC acquired a new stake in shares of Stellantis during the first quarter worth about $240,000. Capital Group Private Client Services Inc. acquired a new stake in Stellantis during the 1st quarter worth approximately $17,894,000. Capital International Investors grew its stake in shares of Stellantis by 329.3% in the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after purchasing an additional 17,261,955 shares during the last quarter. Capital International Sarl acquired a new position in shares of Stellantis in the first quarter valued at approximately $1,709,000. Finally, Capital Research Global Investors increased its holdings in shares of Stellantis by 5.2% in the first quarter. Capital Research Global Investors now owns 1,203,915 shares of the company’s stock valued at $34,218,000 after purchasing an additional 59,169 shares during the period. 59.48% of the stock is owned by hedge funds and other 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.