Stellantis (NYSE:STLA) Shares Gap Down - Here's Why

Stellantis N.V. (NYSE:STLA - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $10.34, but opened at $9.76. Stellantis shares last traded at $9.74, with a volume of 17,647,547 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Redburn Atlantic cut shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and upped their price objective for the company from $10.25 to $13.20 in a research report on Wednesday, June 25th. UBS Group cut Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday, April 14th. DZ Bank raised Stellantis from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $16.50 to $11.75 in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.74.

Stellantis Price Performance

The firm has a market capitalization of $30.61 billion, a PE ratio of 2.97, a price-to-earnings-growth ratio of 0.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.81 and a current ratio of 1.09. The stock's 50 day simple moving average is $9.96 and its two-hundred day simple moving average is $11.08.

Institutional Trading of Stellantis

Several institutional investors have recently made changes to their positions in STLA. Mpwm Advisory Solutions LLC purchased a new stake in Stellantis in the fourth quarter valued at approximately $29,000. SVB Wealth LLC acquired a new stake in shares of Stellantis during the first quarter worth about $35,000. GAMMA Investing LLC boosted its stake in shares of Stellantis by 422.3% during the first quarter. GAMMA Investing LLC now owns 3,139 shares of the company's stock worth $35,000 after buying an additional 2,538 shares during the period. Farther Finance Advisors LLC lifted its position in Stellantis by 54.5% in the first quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock valued at $37,000 after purchasing an additional 1,167 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Stellantis in the fourth quarter valued at about $47,000. 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.