Traders Purchase Large Volume of Call Options on Stellantis (NYSE:STLA)

Stellantis (NYSE:STLA) was the target of unusually large options trading activity on Tuesday. Investors acquired 23,104 call options on the stock. This represents an increase of 132% compared to the typical daily volume of 9,973 call options.

Institutional Trading of Stellantis

Hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in Stellantis by 4.9% during the 3rd quarter. FMR LLC now owns 3,137,594 shares of the company’s stock valued at $44,083,000 after purchasing an additional 145,583 shares in the last quarter. Four Tree Island Advisory LLC acquired a new stake in shares of Stellantis during the fourth quarter valued at about $2,019,000. World Investment Advisors LLC purchased a new stake in shares of Stellantis during the third quarter worth about $1,324,000. Sound Income Strategies LLC lifted its stake in shares of Stellantis by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 317,637 shares of the company’s stock worth $4,145,000 after acquiring an additional 37,627 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd lifted its stake in shares of Stellantis by 28.3% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 537,996 shares of the company’s stock worth $7,408,000 after acquiring an additional 118,635 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on STLA. Evercore ISI initiated coverage on shares of Stellantis in a report on Monday, November 11th. They issued an “inline” rating for the company. TD Cowen began coverage on shares of Stellantis in a research note on Friday. They set a “hold” rating and a $13.00 price objective for the company. Finally, Cowen assumed coverage on Stellantis in a report on Thursday. They set a “hold” rating for the company. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.47.

Stellantis Stock Down 2.5 %

Shares of NYSE STLA traded down $0.32 on Tuesday, hitting $12.55. The company had a trading volume of 22,829,999 shares, compared to its average volume of 13,114,958. The firm has a market capitalization of $37.93 billion, a P/E ratio of 3.68 and a beta of 1.64. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. Stellantis has a 12-month low of $11.40 and a 12-month high of $29.51. The business has a 50 day moving average of $13.10 and a two-hundred day moving average of $13.67.

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.