Stellantis (NYSE:STLA) Hits New 1-Year Low at $14.97

Shares of Stellantis (NYSE:STLA) hit a new 52-week low during trading on Tuesday . The stock traded as low as $14.97 and last traded at $14.99, with a volume of 517377 shares changing hands. The stock had previously closed at $15.55.

Analysts Set New Price Targets

Several analysts recently commented on STLA shares. Barclays upgraded Stellantis to a “strong-buy” rating in a report on Monday, June 17th. Nomura Securities upgraded Stellantis from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 31st. Sanford C. Bernstein started coverage on Stellantis in a report on Friday, June 28th. They issued a “market perform” rating and a $23.50 target price on the stock. Nomura upgraded Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Stellantis has an average rating of “Moderate Buy” and a consensus price target of $27.34.

Stellantis Trading Up 0.5 %

The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $17.34 and a 200-day simple moving average of $21.84.

Insider Buying and Selling at Stellantis

In other news, major shareholder N.V. Stellantis bought 2,982,089 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Stellantis

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Stellantis by 1.2% during the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock worth $2,372,059,000 after purchasing an additional 972,232 shares during the period. Norges Bank acquired a new position in shares of Stellantis during the fourth quarter worth approximately $832,785,000. Capital International Investors raised its position in Stellantis by 329.3% in the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after buying an additional 17,261,955 shares during the last quarter. Capital World Investors raised its position in Stellantis by 63.4% in the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after buying an additional 5,336,868 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Stellantis by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock valued at $326,380,000 after buying an additional 548,929 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

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.