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

Stellantis (NYSE:STLA) 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 trading hands.

Wall Street Analyst Weigh In

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

Stellantis Trading Down 0.9 %

The firm’s 50 day moving average price is $13.01 and its 200-day moving average price is $13.44. The stock has a market cap of $36.47 billion, a P/E ratio of 3.54 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Stellantis by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 84,551,129 shares of the company’s stock worth $1,099,842,000 after buying an additional 2,102,528 shares in the last quarter. Norges Bank bought a new position in shares of Stellantis in the fourth quarter worth approximately $609,076,000. Marshall Wace LLP lifted its position in Stellantis by 72,446.0% during the fourth quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock valued at $226,899,000 after purchasing an additional 17,376,176 shares during the period. Canada Pension Plan Investment Board lifted its position in Stellantis by 24.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,245,300 shares of the company’s stock valued at $185,626,000 after purchasing an additional 2,839,709 shares during the period. Finally, AustralianSuper Pty Ltd lifted its position in Stellantis by 34.3% during the fourth quarter. AustralianSuper Pty Ltd now owns 12,210,877 shares of the company’s stock valued at $159,495,000 after purchasing an additional 3,121,462 shares during the period. 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.