Stellantis (NYSE:STLA) Shares Gap Down – Should You Sell?

Stellantis (NYSE:STLA)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $13.39, but opened at $12.91. Stellantis shares last traded at $12.86, with a volume of 1,112,759 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STLA. Wolfe Research restated a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft cut shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays lowered shares of Stellantis from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 3rd. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $16.44 price objective (down from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.34.

Stellantis Stock Down 1.5 %

The stock has a 50 day moving average price of $13.85 and a two-hundred day moving average price of $17.37. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On Stellantis

Institutional investors have recently bought and sold shares of the company. Capital International Investors grew its holdings in shares of Stellantis by 329.3% in the first quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after purchasing an additional 17,261,955 shares in the last quarter. Capital World Investors increased its position in shares of Stellantis by 63.4% during the first quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock worth $390,811,000 after acquiring an additional 5,336,868 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Stellantis by 0.4% in the second quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock valued at $194,755,000 after acquiring an additional 43,159 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Stellantis by 26.3% in the third quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company’s stock valued at $125,597,000 after purchasing an additional 1,894,146 shares during the period. Finally, Conifer Management L.L.C. grew its stake in Stellantis by 26.4% during the 3rd quarter. Conifer Management L.L.C. now owns 9,000,000 shares of the company’s stock worth $126,450,000 after purchasing an additional 1,880,000 shares in the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

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.