Short Interest in Stellantis (NYSE:STLA) Drops By 22.6%

Stellantis (NYSE:STLA) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 24,140,000 shares, a drop of 22.6% from the September 30th total of 31,200,000 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily volume of 8,980,000 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity

In other Stellantis news, major shareholder N.V. Stellantis bought 2,982,089 shares of Stellantis stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Stellantis by 1.2% in the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock valued at $2,372,059,000 after purchasing an additional 972,232 shares during the period. Capital International Investors raised its stake in Stellantis by 329.3% during the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after acquiring an additional 17,261,955 shares during the last quarter. Capital World Investors raised its stake in Stellantis by 63.4% during the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after acquiring an additional 5,336,868 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Stellantis by 0.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 9,838,506 shares of the company’s stock worth $194,755,000 after acquiring an additional 43,159 shares during the period. Finally, AustralianSuper Pty Ltd grew its stake in shares of Stellantis by 26.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company’s stock valued at $125,597,000 after purchasing an additional 1,894,146 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Stock Performance

Shares of STLA traded down $0.41 during midday trading on Tuesday, reaching $13.34. 7,038,954 shares of the stock were exchanged, compared to its average volume of 6,858,500. Stellantis has a twelve month low of $12.74 and a twelve month high of $29.51. 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 business’s 50-day moving average price is $14.79 and its 200 day moving average price is $18.65.

Analyst Ratings Changes

STLA has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating on shares of Stellantis in a research note on Friday, October 4th. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Barclays lowered Stellantis from an “overweight” rating to an “equal weight” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut Stellantis from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Nomura raised Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Stellantis currently has a consensus rating of “Hold” and a consensus target price of $27.34.

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.