Stellantis (NYSE:STLA) Shares Gap Down to $24.92

Stellantis (NYSE:STLA)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $24.92, but opened at $22.82. Stellantis shares last traded at $22.77, with a volume of 4,452,914 shares trading hands.

Wall Street Analysts Forecast Growth

STLA has been the subject of several recent analyst reports. Redburn Atlantic initiated coverage on shares of Stellantis in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Nomura reiterated a “neutral” rating on shares of Stellantis in a research report on Wednesday, March 13th. Piper Sandler assumed coverage on shares of Stellantis in a research report on Friday, March 15th. They set an “overweight” rating and a $39.00 target price for the company. Sanford C. Bernstein lowered shares of Stellantis from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. Finally, HSBC lowered shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.28.

Stellantis Stock Down 10.9 %

The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $26.94 and a 200 day simple moving average of $23.50.

Stellantis Dividend Announcement

The company also recently disclosed an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a dividend of $1.147 per share. This represents a yield of 4.55%. The ex-dividend date is Monday, April 22nd.

Insider Buying and Selling at Stellantis

In other news, major shareholder N.V. Stellantis acquired 800,000 shares of the stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $4.83 per share, with a total value of $3,864,000.00. Following the completion of the transaction, the insider now owns 36,251,720 shares of the company’s stock, valued at approximately $175,095,807.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders bought 3,150,000 shares of company stock valued at $15,724,500.

Hedge Funds Weigh In On Stellantis

Several large investors have recently modified their holdings of STLA. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Stellantis in the 3rd quarter worth about $26,000. Westend Capital Management LLC purchased a new position in shares of Stellantis in the 1st quarter worth about $38,000. Bruce G. Allen Investments LLC purchased a new position in shares of Stellantis in the 4th quarter worth about $40,000. Solstein Capital LLC purchased a new position in shares of Stellantis in the 4th quarter worth about $50,000. Finally, Cape Investment Advisory Inc. raised its position in Stellantis by 424.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 2,145 shares of the company’s stock worth $50,000 after buying an additional 1,736 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

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.