Stellantis (NYSE:STLA) Sees Significant Drop in Short Interest

Stellantis (NYSE:STLA - Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 13,930,000 shares, a decrease of 17.4% from the March 31st total of 16,870,000 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 5,650,000 shares, the short-interest ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Stellantis from $26.00 to $30.40 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Piper Sandler assumed coverage on Stellantis in a report on Friday, March 15th. They set an "overweight" rating and a $39.00 target price on the stock. Nomura reaffirmed a "neutral" rating on shares of Stellantis in a report on Wednesday, March 13th. HSBC lowered Stellantis from a "buy" rating to a "hold" rating in a report on Wednesday, January 24th. Finally, Redburn Atlantic assumed coverage on Stellantis in a report on Wednesday, January 24th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $30.28.

Insider Activity at Stellantis

In related news, major shareholder N.V. Stellantis bought 800,000 shares of the company's stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $4.83 per share, with a total value of $3,864,000.00. Following the completion of the transaction, the insider now directly owns 36,251,720 shares of the company's stock, valued at $175,095,807.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 3,150,000 shares of company stock valued at $15,724,500. Corporate insiders own 0.02% of the company's stock.

Hedge Funds Weigh In On Stellantis

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Stellantis by 10.5% during the third quarter. Vanguard Group Inc. now owns 83,232,805 shares of the company's stock valued at $1,592,244,000 after acquiring an additional 7,883,816 shares during the period. Norges Bank acquired a new position in Stellantis in the fourth quarter valued at about $832,785,000. Acadian Asset Management LLC lifted its stake in Stellantis by 100,358.0% in the third quarter. Acadian Asset Management LLC now owns 20,993,704 shares of the company's stock valued at $404,714,000 after buying an additional 20,972,806 shares during the period. Invesco Ltd. bought a new stake in shares of Stellantis in the third quarter worth about $232,047,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Stellantis by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company's stock worth $326,380,000 after acquiring an additional 548,929 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

Stellantis Price Performance

Shares of STLA traded up $0.14 on Friday, reaching $24.74. 4,322,924 shares of the stock traded hands, compared to its average volume of 5,098,025. The stock's 50-day moving average price is $26.95 and its 200-day moving average price is $23.47. Stellantis has a 12 month low of $15.07 and a 12 month high of $29.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.24.

Stellantis Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a $1.147 dividend. This represents a yield of 4.55%. The ex-dividend date is Monday, April 22nd.

Stellantis Company Profile

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.