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

Key Points

• Stellantis shares gapped up from a previous close of $9.64 to an opening price of $10.31, with the stock last trading at $10.29 on a volume of over 8 million shares.
• Analysts have mixed opinions on Stellantis, with a consensus rating of "Hold" and an average target price of $12.04, while Bank of America recently downgraded the stock from "buy" to "neutral."
• Institutional investors currently own 59.48% of Stellantis stock, with notable increases in stake by firms like GAMMA Investing and SVB Wealth in the recent quarters.

Stellantis N.V. (NYSE:STLA - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $9.64, but opened at $10.31. Stellantis shares last traded at $10.29, with a volume of 8,202,937 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on STLA shares. Bank of America downgraded shares of Stellantis from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $16.50 to $11.75 in a research note on Monday, July 7th. BNP Paribas raised shares of Stellantis to a "hold" rating in a research note on Tuesday, September 9th. Wolfe Research downgraded shares of Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. BNP Paribas Exane started coverage on shares of Stellantis in a research note on Monday, September 8th. They set a "neutral" rating and a $10.10 price objective for the company. Finally, Berenberg Bank raised shares of Stellantis from a "hold" rating to a "buy" rating and set a $11.20 price objective for the company in a research note on Friday, September 19th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Stellantis currently has a consensus rating of "Hold" and an average target price of $12.04.

Stellantis Trading Up 7.0%

The company has a market capitalization of $31.18 billion, a P/E ratio of 3.02, a P/E/G ratio of 0.59 and a beta of 1.52. The stock's 50 day moving average is $9.48 and its 200-day moving average is $9.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77.

Hedge Funds Weigh In On Stellantis

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in Stellantis in the second quarter worth about $28,000. GAMMA Investing LLC increased 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 valued at $35,000 after purchasing an additional 2,538 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Stellantis during the first quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its stake in shares of Stellantis by 54.5% during 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 in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Stellantis during the second quarter valued at approximately $37,000. 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.

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