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

Stellantis (NYSE:STLA) shares gapped down prior to trading 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.

Analysts Set New Price Targets

STLA has been the topic of several recent research reports. Piper Sandler downgraded shares of Stellantis from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $13.00 in a research report on Thursday. Cowen started coverage on Stellantis in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Finally, TD Cowen began coverage on Stellantis in a report on Friday, March 7th. They set a “hold” rating and a $13.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.27.

Stellantis Price Performance

The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $13.04 and a 200-day simple moving average of $13.48. The firm has a market cap of $36.93 billion, a PE ratio of 3.59 and a beta of 1.64.

Institutional Trading of Stellantis

Several institutional investors have recently made changes to their positions in STLA. Geneos Wealth Management Inc. purchased a new position in Stellantis in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Stellantis during the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Stellantis in the third quarter worth $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Stellantis during the fourth quarter worth $47,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Stellantis by 67.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock worth $48,000 after acquiring an additional 1,489 shares during the last quarter. Hedge funds and other institutional investors 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.