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

Shares of Stellantis (NYSE:STLA) gapped down prior to trading on Wednesday . The stock had previously closed at $14.03, but opened at $13.38. Stellantis shares last traded at $13.52, with a volume of 7,575,332 shares traded.

Analysts Set New Price Targets

Separately, Evercore ISI started coverage on Stellantis in a report on Monday, November 11th. They issued an “inline” rating for the company. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.34.

Stellantis Stock Down 4.0 %

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’s fifty day moving average price is $13.16 and its 200-day moving average price is $13.88.

Institutional Trading of Stellantis

Institutional investors and hedge funds have recently modified their holdings of the business. Michels Family Financial LLC purchased a new position in Stellantis during the fourth quarter worth approximately $375,000. Sunbelt Securities Inc. acquired a new position in shares of Stellantis in the 4th quarter valued at about $65,000. GTS Securities LLC increased its holdings in shares of Stellantis by 194.7% in the 4th quarter. GTS Securities LLC now owns 132,180 shares of the company’s stock worth $1,725,000 after acquiring an additional 271,803 shares during the period. Vise Technologies Inc. boosted its position in Stellantis by 5.0% during the 4th quarter. Vise Technologies Inc. now owns 41,395 shares of the company’s stock worth $540,000 after acquiring an additional 1,965 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Stellantis in the fourth quarter worth approximately $29,000. 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.