Stellantis (NYSE:STLA) Shares Gap Up – Should You Buy?

Stellantis (NYSE:STLA) shares gapped up before the market opened on Thursday . The stock had previously closed at $12.73, but opened at $13.29. Stellantis shares last traded at $13.36, with a volume of 3,241,056 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on STLA shares. Wolfe Research restated a “peer perform” rating on shares of Stellantis in a research report on Thursday, September 5th. Barclays cut Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. Finally, Evercore ISI assumed coverage on shares of Stellantis in a research note on Monday, November 11th. They issued an “inline” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Stellantis has a consensus rating of “Hold” and a consensus target price of $27.34.

Stellantis Stock Up 3.2 %

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’s 50 day simple moving average is $13.32 and its two-hundred day simple moving average is $16.68.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Dnca Finance acquired a new position in shares of Stellantis during the 2nd quarter valued at $75,331,000. Franklin Resources Inc. boosted its holdings in Stellantis by 74.7% during the third quarter. Franklin Resources Inc. now owns 7,605,563 shares of the company’s stock valued at $102,340,000 after acquiring an additional 3,252,492 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Stellantis by 464.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,246,800 shares of the company’s stock worth $45,618,000 after purchasing an additional 2,671,500 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Stellantis during the third quarter valued at approximately $26,679,000. Finally, AustralianSuper Pty Ltd increased its stake in Stellantis by 26.3% in the third quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company’s stock valued at $125,597,000 after acquiring an additional 1,894,146 shares during the period. Institutional investors and hedge funds 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.