Stellantis (NYSE:STLA) Shares Gap Down – Time to Sell?

Stellantis (NYSE:STLA) shares gapped down prior to trading on Thursday . The stock had previously closed at $12.67, but opened at $12.11. Stellantis shares last traded at $12.18, with a volume of 3,672,363 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STLA shares. Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $13.00 in a research note on Thursday. TD Cowen began coverage on shares of Stellantis in a research report on Friday, March 7th. They issued a “hold” rating and a $13.00 target price on the stock. Finally, Cowen initiated coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Ten research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.27.

Stellantis Trading Down 3.6 %

The stock’s 50 day moving average is $13.04 and its 200-day moving average is $13.48. The company has a market cap of $36.93 billion, a P/E ratio of 3.59 and a beta of 1.64. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Institutional Trading of Stellantis

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Stellantis by 4.9% in the third quarter. FMR LLC now owns 3,137,594 shares of the company’s stock worth $44,083,000 after purchasing an additional 145,583 shares during the last quarter. Four Tree Island Advisory LLC purchased a new position in shares of Stellantis in the 4th quarter worth $2,019,000. World Investment Advisors LLC purchased a new position in shares of Stellantis in the 3rd quarter worth $1,324,000. Sound Income Strategies LLC grew its holdings in shares of Stellantis by 13.4% in the fourth quarter. Sound Income Strategies LLC now owns 317,637 shares of the company’s stock worth $4,145,000 after acquiring an additional 37,627 shares during the period. Finally, Te Ahumairangi Investment Management Ltd increased its position in Stellantis by 28.3% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 537,996 shares of the company’s stock valued at $7,408,000 after acquiring an additional 118,635 shares during the last quarter. 59.48% of the stock is currently 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.