Stellantis (NYSE:STLA) Shares Gap Down – Time to Sell?

Stellantis (NYSE:STLA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $12.67, but opened at $12.11. Stellantis shares last traded at $12.18, with a volume of 3,672,363 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on STLA shares. Piper Sandler downgraded shares of Stellantis from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $13.00 in a research report on Thursday. Cowen started coverage on shares of Stellantis in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Finally, TD Cowen started coverage on shares of Stellantis in a research report on Friday, March 7th. They issued a “hold” rating and a $13.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.27.

Stellantis Trading Down 0.9 %

The stock’s 50 day moving average price is $13.01 and its 200-day moving average price is $13.44. 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 stock has a market capitalization of $36.47 billion, a PE ratio of 3.54 and a beta of 1.64.

Institutional Trading of Stellantis

A number of hedge funds and other institutional investors have recently modified their holdings of STLA. Norges Bank purchased a new stake in shares of Stellantis in the fourth quarter worth $609,076,000. Marshall Wace LLP increased its stake in shares of Stellantis by 72,446.0% in the fourth quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock worth $226,899,000 after purchasing an additional 17,376,176 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Stellantis in the fourth quarter worth $93,779,000. Banco Santander S.A. increased its stake in shares of Stellantis by 282.2% in the fourth quarter. Banco Santander S.A. now owns 7,258,025 shares of the company’s stock worth $94,717,000 after purchasing an additional 5,359,190 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Stellantis by 306.9% in the fourth quarter. Capital Research Global Investors now owns 6,905,990 shares of the company’s stock worth $90,636,000 after purchasing an additional 5,208,889 shares in the last quarter. 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.