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

Stellantis (NYSE:STLA - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $9.89, but opened at $10.57. Stellantis shares last traded at $10.47, with a volume of 1,868,478 shares trading hands.

Wall Street Analysts Forecast Growth

STLA has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on shares of Stellantis in a research report on Friday, March 7th. They issued a "hold" rating and a $13.00 price target on the stock. Redburn Atlantic downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. UBS Group downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday, April 14th. DZ Bank upgraded shares of Stellantis from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Cowen started coverage on shares of Stellantis in a research report on Thursday, March 6th. They set a "hold" rating on the stock. Twelve equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.49.

Stellantis Price Performance

The stock has a market capitalization of $30.69 billion, a P/E ratio of 2.98 and a beta of 1.45. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $9.97 and a two-hundred day simple moving average of $11.97.

Stellantis Announces Dividend

The business also recently declared a dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 24th were paid a $0.5032 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a dividend yield of 6.07%. Stellantis's dividend payout ratio (DPR) is presently 20.82%.

Institutional Trading of Stellantis

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Stellantis in the 4th quarter valued at about $609,076,000. Bridgewater Associates LP bought a new stake in shares of Stellantis in the 4th quarter valued at about $999,000. Korea Investment CORP increased its stake in shares of Stellantis by 32.1% in the 4th quarter. Korea Investment CORP now owns 1,305,558 shares of the company's stock valued at $17,020,000 after acquiring an additional 317,091 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Stellantis by 3.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,529,083 shares of the company's stock valued at $59,045,000 after acquiring an additional 162,201 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Stellantis in the 4th quarter valued at about $1,151,000. 59.48% of the stock is owned by institutional investors.

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.