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

Stellantis N.V. (NYSE:STLA) gapped down before the market opened on Monday. The stock had previously closed at $4.37, but opened at $4.21. Stellantis shares last traded at $4.2050, with a volume of 4,978,597 shares changing hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Sanford C. Bernstein downgraded Stellantis from a “market perform” rating to an “underperform” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Stellantis in a research note on Tuesday, July 14th. Freedom Broker cut their price objective on shares of Stellantis from $7.50 to $6.80 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. UBS Group downgraded shares of Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday, August 3rd. Finally, Evercore set a $7.50 target price on shares of Stellantis in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $7.38.

Stellantis Stock Up 0.8%

The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $4.94 and a 200 day simple moving average of $6.18. The company has a market cap of $16.28 billion, a P/E ratio of 11.09, a P/E/G ratio of 0.37 and a beta of 1.49.

Stellantis (NYSE:STLA) last released its earnings results on Tuesday, June 30th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $49.63 billion for the quarter. On average, equities analysts anticipate that Stellantis N.V. will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Stellantis by 84.7% during the 1st quarter. Bank of America Corp DE now owns 23,518,418 shares of the company’s stock valued at $166,746,000 after purchasing an additional 10,783,370 shares during the period. Swiss National Bank raised its holdings in shares of Stellantis by 26.8% in the 1st quarter. Swiss National Bank now owns 6,981,716 shares of the company’s stock valued at $48,774,000 after purchasing an additional 1,477,637 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Stellantis by 19.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,501,139 shares of the company’s stock valued at $24,810,000 after purchasing an additional 574,048 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Stellantis by 118.4% in the 1st quarter. Renaissance Technologies LLC now owns 3,365,143 shares of the company’s stock valued at $23,540,000 after purchasing an additional 1,824,139 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Stellantis by 3.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,563,595 shares of the company’s stock worth $10,916,000 after purchasing an additional 49,349 shares during the period. Hedge funds and other institutional investors own 59.48% of the company’s stock.

About Stellantis

Stellantis N.V. (NYSE: STLA) is a global automotive company formed in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company designs, engineers, manufactures and sells passenger cars, light commercial vehicles and mobility solutions across markets worldwide.

Stellantis operates a broad portfolio of automotive brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall. Its products range from mass-market cars and sport utility vehicles to commercial vans, performance vehicles and luxury automobiles.