Stellantis (NYSE:STLA) Shares Gap Down – Here’s Why

Shares of Stellantis N.V. (NYSE:STLA) gapped down before the market opened on Thursday . The stock had previously closed at $5.43, but opened at $5.16. Stellantis shares last traded at $5.1230, with a volume of 5,244,788 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. TD Cowen cut their price objective on shares of Stellantis from $9.00 to $6.00 and set a “hold” rating for the company in a report on Monday, July 13th. Truist Financial set a $9.00 target price on shares of Stellantis in a report on Friday, May 22nd. Citigroup restated a “neutral” rating on shares of Stellantis in a research report on Thursday, July 9th. Bank of America lowered Stellantis from a “neutral” rating to an “underperform” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Stellantis in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Stellantis currently has a consensus rating of “Reduce” and a consensus target price of $8.66.

Stellantis Price Performance

The business’s 50-day moving average price is $5.75 and its 200 day moving average price is $6.95. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $20.40 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 0.30 and a beta of 1.45.

Stellantis (NYSE:STLA) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $0.14 EPS for the quarter. The firm had revenue of $49.63 billion for the quarter. Analysts anticipate that Stellantis N.V. will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Stellantis in the fourth quarter worth $553,692,000. Viking Global Investors LP purchased a new position in Stellantis during the fourth quarter worth about $434,320,000. Marshall Wace LLP grew its position in Stellantis by 353.2% during the fourth quarter. Marshall Wace LLP now owns 15,145,245 shares of the company’s stock worth $167,481,000 after buying an additional 11,803,688 shares in the last quarter. Bank of America Corp DE increased its stake in Stellantis by 84.7% in the 1st quarter. Bank of America Corp DE now owns 23,518,418 shares of the company’s stock worth $166,746,000 after acquiring an additional 10,783,370 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Stellantis by 122.8% in the 4th quarter. Franklin Resources Inc. now owns 18,753,235 shares of the company’s stock worth $205,019,000 after acquiring an additional 10,337,920 shares during the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.