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

Stellantis (NYSE:STLA)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $12.75, but opened at $12.47. Stellantis shares last traded at $12.63, with a volume of 4,664,557 shares traded.

Analysts Set New Price Targets

STLA has been the topic of a number of recent research reports. Evercore ISI initiated coverage on shares of Stellantis in a research note on Monday, November 11th. They set an “inline” rating on the stock. TD Cowen initiated coverage on shares of Stellantis in a research note on Friday. They set a “hold” rating and a $13.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.47.

Stellantis Price Performance

The company has a market capitalization of $38.53 billion, a PE ratio of 3.74 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.14 and a quick ratio of 0.85. The company’s 50 day simple moving average is $13.11 and its 200 day simple moving average is $13.72.

Hedge Funds Weigh In On Stellantis

Several hedge funds have recently added to or reduced their stakes in STLA. Geneos Wealth Management Inc. purchased a new position in Stellantis in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new position in Stellantis in the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in Stellantis in the third quarter valued at approximately $47,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Stellantis in the fourth quarter valued at approximately $47,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Stellantis by 67.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,711 shares of the company’s stock valued at $48,000 after acquiring an additional 1,489 shares during the period. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

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.