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

Stellantis N.V. (NYSE:STLA - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $9.27, but opened at $9.87. Stellantis shares last traded at $9.92, with a volume of 3,749,684 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on the company. Redburn Atlantic lowered Stellantis from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 22nd. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and cut their price target for the company from $16.50 to $11.75 in a research note on Monday, July 7th. Wolfe Research downgraded Stellantis from a "peer perform" rating to an "underperform" rating in a report on Wednesday, July 2nd. UBS Group downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a research report on Monday, April 14th. Finally, DZ Bank upgraded shares of Stellantis from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Stellantis presently has an average rating of "Hold" and an average target price of $12.74.

Stellantis Stock Performance

The business's 50-day moving average price is $9.96 and its 200-day moving average price is $11.08. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.30. The stock has a market cap of $30.61 billion, a PE ratio of 2.97, a P/E/G ratio of 0.44 and a beta of 1.44.

Hedge Funds Weigh In On Stellantis

A number of large investors have recently made changes to their positions in STLA. Atria Wealth Solutions Inc. grew its stake in Stellantis by 46.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 15,691 shares of the company's stock worth $161,000 after buying an additional 4,996 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Stellantis in the second quarter worth about $185,000. Yousif Capital Management LLC grew its stake in shares of Stellantis by 18.9% during the second quarter. Yousif Capital Management LLC now owns 32,218 shares of the company's stock worth $323,000 after acquiring an additional 5,115 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Stellantis by 2.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 83,148 shares of the company's stock valued at $834,000 after acquiring an additional 1,599 shares in the last quarter. Finally, Strengthening Families & Communities LLC raised its position in shares of Stellantis by 42.4% in the 2nd quarter. Strengthening Families & Communities LLC now owns 62,697 shares of the company's stock valued at $647,000 after purchasing an additional 18,659 shares during the last quarter. 59.48% of the stock is 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.