Stellantis (NYSE:STLA) Sees Strong Trading Volume – Time to Buy?

Stellantis (NYSE:STLA) saw unusually-high trading volume on Wednesday . Approximately 13,878,946 shares were traded during trading, an increase of 56% from the previous session’s volume of 8,896,909 shares.The stock last traded at $12.31 and had previously closed at $12.40.

Analysts Set New Price Targets

STLA has been the topic of several recent research reports. Piper Sandler downgraded shares of Stellantis from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $13.00 in a report on Thursday, March 20th. Cowen started coverage on shares of Stellantis in a research note on Thursday, March 6th. They set a “hold” rating on the stock. Finally, TD Cowen assumed coverage on Stellantis in a research report on Friday, March 7th. They set a “hold” rating and a $13.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.27.

Stellantis Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $34.27 billion, a price-to-earnings ratio of 3.32 and a beta of 1.64. The stock’s fifty day moving average is $12.98 and its two-hundred day moving average is $13.34.

Hedge Funds Weigh In On Stellantis

A number of institutional investors have recently made changes to their positions in STLA. Cerity Partners LLC lifted its position in shares of Stellantis by 59.7% during the third quarter. Cerity Partners LLC now owns 79,737 shares of the company’s stock worth $1,120,000 after purchasing an additional 29,797 shares during the last quarter. Bank of Montreal Can increased its stake in Stellantis by 33.4% during the third quarter. Bank of Montreal Can now owns 1,704,996 shares of the company’s stock valued at $23,955,000 after purchasing an additional 426,445 shares during the last quarter. FMR LLC raised its holdings in shares of Stellantis by 4.9% during 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 period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Stellantis by 464.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,246,800 shares of the company’s stock worth $45,618,000 after buying an additional 2,671,500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Stellantis by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,980,732 shares of the company’s stock worth $27,429,000 after buying an additional 193,653 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

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.