Traders Buy Large Volume of Stellantis Call Options (NYSE:STLA)

Stellantis (NYSE:STLA) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 15,541 call options on the stock. This represents an increase of approximately 50% compared to the average daily volume of 10,354 call options.

Institutional Investors Weigh In On Stellantis

A number of hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in shares of Stellantis during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Stellantis in the fourth quarter valued at approximately $29,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Stellantis during the fourth quarter worth $47,000. MassMutual Private Wealth & Trust FSB raised its position in Stellantis by 67.0% in 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 in the last quarter. Finally, WealthCollab LLC lifted its holdings in Stellantis by 96.5% in the fourth quarter. WealthCollab LLC now owns 4,594 shares of the company’s stock valued at $60,000 after acquiring an additional 2,256 shares during the period. Institutional investors and hedge funds own 59.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on STLA shares. Piper Sandler downgraded shares of Stellantis from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $13.00 in a research report on Thursday, March 20th. TD Cowen initiated coverage on shares of Stellantis in a research note on Friday, March 7th. They set a “hold” rating and a $13.00 target price for the company. Finally, Cowen assumed coverage on Stellantis in a report on Thursday, March 6th. They set a “hold” rating on the stock. Nine 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 stock. According to MarketBeat, Stellantis presently has a consensus rating of “Hold” and an average price target of $19.27.

Stellantis Stock Performance

Shares of NYSE:STLA traded up $0.04 during midday trading on Wednesday, hitting $11.13. The stock had a trading volume of 6,538,230 shares, compared to its average volume of 14,250,303. Stellantis has a 1 year low of $10.93 and a 1 year high of $27.56. 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 moving average price of $12.88 and a two-hundred day moving average price of $13.23. The company has a market capitalization of $33.63 billion, a PE ratio of 3.26 and a beta of 1.64.

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.