Freedom Capital Downgrades Stellantis (NYSE:STLA) to Hold

Stellantis (NYSE:STLA) was downgraded by equities researchers at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Piper Sandler set a $15.00 price target on shares of Stellantis and gave the company an “overweight” rating in a research report on Thursday, January 8th. Zacks Research upgraded Stellantis from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. HSBC restated a “hold” rating on shares of Stellantis in a research note on Tuesday, January 13th. BNP Paribas Exane cut Stellantis from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Stellantis in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.31.

Stellantis Trading Down 1.8%

NYSE:STLA opened at $7.50 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $9.38 and its 200 day simple moving average is $9.98. Stellantis has a twelve month low of $7.03 and a twelve month high of $13.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in Stellantis by 68.8% during the first quarter. AQR Capital Management LLC now owns 82,009 shares of the company’s stock valued at $919,000 after buying an additional 33,429 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Stellantis by 37.2% during the first quarter. Focus Partners Wealth now owns 15,261 shares of the company’s stock valued at $171,000 after acquiring an additional 4,135 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Stellantis in the 2nd quarter worth about $125,000. Envestnet Asset Management Inc. raised its position in shares of Stellantis by 58.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 169,180 shares of the company’s stock worth $1,696,000 after purchasing an additional 62,444 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Stellantis in the 2nd quarter worth about $269,000. Institutional investors own 59.48% of the company’s stock.

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.