Stellantis (NYSE:STLA) Shares Gap Up - Should You Buy?

Stellantis N.V. (NYSE:STLA - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.59, but opened at $10.04. Stellantis shares last traded at $9.95, with a volume of 4,494,803 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Piper Sandler lowered Stellantis from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $23.00 to $13.00 in a report on Thursday, March 20th. TD Cowen initiated coverage on Stellantis in a report on Friday, March 7th. They set a "hold" rating and a $13.00 price target for the company. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and upped their price target for the stock from $10.25 to $13.20 in a report on Wednesday. UBS Group lowered Stellantis from a "buy" rating to a "neutral" rating in a report on Monday, April 14th. Finally, Cowen initiated coverage on Stellantis in a report on Thursday, March 6th. They set a "hold" rating for the company. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.68.

Stellantis Trading Up 0.7%

The business has a 50-day moving average price of $9.88 and a 200-day moving average price of $11.57. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.30.

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 paid a dividend of $0.5032 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a yield of 6.07%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Stellantis during the fourth quarter worth $609,076,000. Bridgewater Associates LP bought a new stake in shares of Stellantis during the fourth quarter worth $999,000. Korea Investment CORP grew its holdings in shares of Stellantis by 32.1% during the fourth quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock worth $17,020,000 after purchasing an additional 317,091 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Stellantis by 3.7% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company's stock worth $59,045,000 after purchasing an additional 162,201 shares during the last quarter. Finally, Michels Family Financial LLC bought a new stake in shares of Stellantis during the fourth quarter worth $375,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.

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.