Stellantis (NYSE:STLA) Shares Gap Up – Time to Buy?

Stellantis (NYSE:STLA)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $9.89, but opened at $10.57. Stellantis shares last traded at $10.47, with a volume of 1,868,478 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cowen started coverage on shares of Stellantis in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Redburn Atlantic cut shares of Stellantis from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 22nd. TD Cowen assumed coverage on Stellantis in a research report on Friday, March 7th. They set a “hold” rating and a $13.00 price target on the stock. UBS Group lowered Stellantis from a “buy” rating to a “neutral” rating in a research note on Monday, April 14th. Finally, Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Twelve analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.49.

Stellantis Stock Performance

The company’s 50 day moving average is $10.13 and its 200 day moving average is $12.04. The firm has a market cap of $31.53 billion, a P/E ratio of 3.05 and a beta of 1.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14.

Stellantis Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 24th were issued a dividend of $0.5032 per share. This represents a dividend yield of 6.07%. The ex-dividend date was Wednesday, April 23rd. Stellantis’s dividend payout ratio (DPR) is 20.82%.

Hedge Funds Weigh In On Stellantis

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of Stellantis by 208.0% in the first quarter. Goldman Sachs Group Inc. now owns 95,367,261 shares of the company’s stock valued at $1,069,067,000 after buying an additional 64,406,866 shares during the period. Norges Bank bought a new position in Stellantis in the fourth quarter worth approximately $609,076,000. Deutsche Bank AG purchased a new stake in shares of Stellantis during the 1st quarter worth approximately $368,520,000. Marshall Wace LLP lifted its position in shares of Stellantis by 72,446.0% during the 4th quarter. Marshall Wace LLP now owns 17,400,161 shares of the company’s stock valued at $226,899,000 after buying an additional 17,376,176 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Stellantis by 318.6% during the 1st quarter. Hsbc Holdings PLC now owns 11,808,556 shares of the company’s stock worth $130,893,000 after acquiring an additional 8,987,548 shares during the period. Institutional investors and hedge funds own 59.48% of the company’s stock.

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.