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

Stellantis (NYSE:STLA - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $10.14, but opened at $9.83. Stellantis shares last traded at $9.80, with a volume of 2,819,175 shares changing hands.

Wall Street Analyst Weigh In

STLA has been the subject of a number of research reports. Redburn Atlantic downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Tuesday, April 22nd. TD Cowen initiated coverage on shares of Stellantis in a report on Friday, March 7th. They issued a "hold" rating and a $13.00 price target for the company. UBS Group downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a report on Monday, April 14th. Piper Sandler cut shares of Stellantis from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $23.00 to $13.00 in a research note on Thursday, March 20th. Finally, DZ Bank upgraded shares of Stellantis from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. Twelve research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Stellantis currently has a consensus rating of "Hold" and a consensus price target of $16.49.

Stellantis Stock Up 0.2%

The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 2.91 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. The business's 50-day moving average is $9.86 and its 200-day moving average is $11.90.

Stellantis Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 24th were issued a dividend of $0.5032 per share. This represents a yield of 6.07%. The ex-dividend date of this dividend was Wednesday, April 23rd. Stellantis's dividend payout ratio is currently 20.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in Stellantis by 208.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company's stock worth $1,069,067,000 after buying an additional 64,406,866 shares during the period. Norges Bank bought a new position in Stellantis during the fourth quarter worth $609,076,000. Deutsche Bank AG bought a new position in Stellantis during the first quarter worth $368,520,000. Marshall Wace LLP grew its stake in shares of Stellantis by 72,446.0% in the fourth quarter. Marshall Wace LLP now owns 17,400,161 shares of the company's stock valued at $226,899,000 after acquiring an additional 17,376,176 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Stellantis by 318.6% in the first quarter. Hsbc Holdings PLC now owns 11,808,556 shares of the company's stock valued at $130,893,000 after acquiring an additional 8,987,548 shares in the last quarter. 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.