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

Stellantis (NYSE:STLA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $13.37, but opened at $12.93. Stellantis shares last traded at $12.82, with a volume of 1,933,711 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STLA shares. Nomura upgraded Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI started coverage on Stellantis in a report on Monday, November 11th. They issued an “inline” rating on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $16.44 target price (down previously from $27.30) on shares of Stellantis in a report on Wednesday, August 7th. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Finally, Barclays lowered shares of Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.34.

Stellantis Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. The firm has a 50-day simple moving average of $13.68 and a two-hundred day simple moving average of $17.09.

Institutional Investors Weigh In On Stellantis

Several large investors have recently added to or reduced their stakes in STLA. Sequoia Financial Advisors LLC grew its stake in shares of Stellantis by 4.6% in the second quarter. Sequoia Financial Advisors LLC now owns 14,533 shares of the company’s stock worth $288,000 after acquiring an additional 636 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Stellantis by 6.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 11,519 shares of the company’s stock worth $326,000 after purchasing an additional 656 shares during the period. Legacy Capital Group California Inc. raised its position in Stellantis by 7.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 10,777 shares of the company’s stock valued at $214,000 after purchasing an additional 707 shares in the last quarter. CWM LLC boosted its stake in shares of Stellantis by 7.6% in the 2nd quarter. CWM LLC now owns 12,424 shares of the company’s stock valued at $247,000 after buying an additional 874 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in shares of Stellantis by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 41,257 shares of the company’s stock valued at $819,000 after buying an additional 971 shares during the period. 59.48% of the stock is owned by hedge funds and other institutional investors.

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.