Stellantis (NYSE:STLA) Trading 7.4% Higher - Here's What Happened

Key Points

• Stellantis N.V. saw its stock price increase by 7.4% during mid-day trading, reaching a last trade of $9.40 after closing at $8.75.
• Analysts have given Stellantis mixed ratings, with one upgrade to "buy" and several downgrades, resulting in an average target price of $12.21.
• Institutional investors hold 59.48% of Stellantis' stock, with notable increases in stakes from several firms in recent quarters.

Stellantis N.V. (NYSE:STLA - Get Free Report)'s stock price was up 7.4% during mid-day trading on Thursday . The company traded as high as $9.43 and last traded at $9.40. Approximately 8,921,899 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 17,103,385 shares. The stock had previously closed at $8.75.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STLA shares. BNP Paribas Exane started coverage on Stellantis in a report on Monday. They issued a "neutral" rating and a $10.10 target price for the company. Bank of America lowered Stellantis from a "buy" rating to a "neutral" rating and decreased their target price for the company from $16.50 to $11.75 in a report on Monday, July 7th. Zacks Research lowered Stellantis from a "hold" rating to a "strong sell" rating in a report on Monday, August 25th. Jefferies Financial Group upgraded Stellantis from a "hold" rating to a "buy" rating and lifted their target price for the company from $10.25 to $13.20 in a report on Wednesday, June 25th. Finally, BNP Paribas upgraded Stellantis to a "hold" rating in a report on Tuesday. One analyst has 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. According to MarketBeat, the company has an average rating of "Reduce" and an average target price of $12.21.

Stellantis Price Performance

The company has a market capitalization of $28.83 billion, a PE ratio of 2.79, a P/E/G ratio of 0.53 and a beta of 1.46. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $9.55 and a 200-day simple moving average of $10.21.

Hedge Funds Weigh In On Stellantis

Institutional investors have recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC acquired a new position in Stellantis in the 4th quarter valued at about $29,000. FNY Investment Advisers LLC purchased a new stake in Stellantis in the 2nd quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in Stellantis in the 1st quarter valued at approximately $35,000. GAMMA Investing LLC lifted its stake in Stellantis by 422.3% in the 1st quarter. GAMMA Investing LLC now owns 3,139 shares of the company's stock valued at $35,000 after buying an additional 2,538 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Stellantis by 54.5% in the 1st quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock valued at $37,000 after buying an additional 1,167 shares in the last quarter. Institutional investors and hedge funds 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.

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