Stellantis (NYSE:STLA) Sees Large Volume Increase – Here’s Why

Stellantis (NYSE:STLA) shares saw an uptick in trading volume on Wednesday . 13,878,946 shares changed hands 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.

Wall Street Analysts Forecast Growth

STLA has been the subject of several recent analyst reports. Cowen started coverage on shares of Stellantis in a research report on Thursday, March 6th. They issued a “hold” rating for the company. TD Cowen started coverage on Stellantis in a report on Friday, March 7th. They issued a “hold” rating and a $13.00 price objective for the company. Finally, Piper Sandler cut Stellantis from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $13.00 in a research report on Thursday, March 20th. Ten equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.27.

Stellantis Trading Down 2.1 %

The stock has a market capitalization of $36.69 billion, a P/E ratio of 3.56 and a beta of 1.64. The firm’s 50-day simple moving average is $13.01 and its 200 day simple moving average is $13.36. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Stellantis

Several large investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of Stellantis by 7.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,184 shares of the company’s stock valued at $211,000 after purchasing an additional 1,149 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Stellantis by 9.5% during the 3rd quarter. Prospera Financial Services Inc now owns 13,681 shares of the company’s stock worth $192,000 after buying an additional 1,192 shares during the period. Spire Wealth Management lifted its stake in Stellantis by 29.7% during the fourth quarter. Spire Wealth Management now owns 5,291 shares of the company’s stock valued at $69,000 after buying an additional 1,211 shares in the last quarter. Glenorchy Capital Ltd boosted its holdings in shares of Stellantis by 4.9% in the fourth quarter. Glenorchy Capital Ltd now owns 28,701 shares of the company’s stock worth $375,000 after buying an additional 1,340 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in shares of Stellantis by 10.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 16,246 shares of the company’s stock worth $212,000 after acquiring an additional 1,481 shares in the last quarter. 59.48% of the stock is owned by 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.