Stellantis (NYSE:STLA) Sees Strong Trading Volume - Still a Buy?

Shares of Stellantis (NYSE:STLA - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 13,878,946 shares traded hands during mid-day 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

Several equities research analysts have weighed in on the stock. Piper Sandler cut shares of Stellantis from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $13.00 in a research report on Thursday, March 20th. Cowen initiated coverage on Stellantis in a research report on Thursday, March 6th. They set a "hold" rating for the company. Finally, TD Cowen started coverage on shares of Stellantis in a report on Friday, March 7th. They issued a "hold" rating and a $13.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $19.27.

Stellantis Trading Down 4.0 %

The stock's fifty day moving average price is $12.95 and its 200 day moving average price is $13.30. The stock has a market cap of $34.27 billion, a P/E ratio of 3.32 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 Investors Weigh In On Stellantis

A number of hedge funds and other institutional investors have recently bought and sold shares of STLA. Cerity Partners LLC boosted its position in shares of Stellantis by 59.7% in the 3rd 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 in the last quarter. Bank of Montreal Can raised 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 buying an additional 426,445 shares during the last quarter. 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 acquiring an additional 145,583 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Stellantis by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,980,732 shares of the company's stock worth $27,429,000 after acquiring an additional 193,653 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Stellantis by 5.9% during the third quarter. Captrust Financial Advisors now owns 3,233,320 shares of the company's stock valued at $45,328,000 after acquiring an additional 181,052 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company's stock.

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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.