Stellantis (NYSE:STLA) Shares Gap Up - Time to Buy?

Key Points

• Stellantis shares opened higher, gapping from a prior close of $5.28 to $5.47 before trading near $5.43.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with 10 Hold and six Sell ratings, despite an average price target of $8.66; Piper Sandler set a notably lower $4.00 target.
• Stellantis reported quarterly EPS of $0.14 on $49.63 billion in revenue, while institutional investors and hedge funds own approximately 59.48% of the stock.

Shares of Stellantis N.V. (NYSE:STLA - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $5.28, but opened at $5.47. Stellantis shares last traded at $5.43, with a volume of 3,129,224 shares trading hands.

Analysts Set New Price Targets

STLA has been the subject of several recent research reports. Citigroup reaffirmed a "neutral" rating on shares of Stellantis in a research note on Thursday, July 9th. Sanford C. Bernstein lowered shares of Stellantis from a "market perform" rating to an "underperform" rating in a report on Friday, August 7th. UBS Group cut shares of Stellantis from a "buy" rating to a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings lowered shares of Stellantis from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Finally, Piper Sandler downgraded Stellantis from an "overweight" rating to an "underweight" rating and set a $4.00 target price on the stock. in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $8.66.

Stellantis Stock Performance

The stock has a fifty day simple moving average of $5.64 and a two-hundred day simple moving average of $6.82. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.76 and a current ratio of 1.04. The stock has a market capitalization of $20.48 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.30 and a beta of 1.45.

Stellantis (NYSE:STLA - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $49.63 billion during the quarter. Analysts forecast that Stellantis N.V. will post 0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stellantis

Several institutional investors have recently added to or reduced their stakes in STLA. United Community Bank bought a new stake in shares of Stellantis in the 4th quarter valued at $26,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Stellantis by 113.6% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,300 shares of the company's stock worth $36,000 after purchasing an additional 1,755 shares in the last quarter. Intesa Sanpaolo Wealth Management acquired a new stake in shares of Stellantis in the 4th quarter valued at about $49,000. Sarver Vrooman Wealth Advisors bought a new stake in Stellantis in the 4th quarter valued at about $52,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Stellantis by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 6,286 shares of the company's stock worth $63,000 after acquiring an additional 2,448 shares in the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source