Stellantis (NYSE:STLA) Sets New 52-Week High at $23.93

Stellantis (NYSE:STLAGet Free Report)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $23.93 and last traded at $23.82, with a volume of 719426 shares trading hands. The stock had previously closed at $23.51.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STLA. Barclays started coverage on shares of Stellantis in a report on Monday, October 16th. They issued an “overweight” rating for the company. Wolfe Research started coverage on shares of Stellantis in a research report on Thursday, February 1st. They set an “outperform” rating for the company. Redburn Atlantic started coverage on shares of Stellantis in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Wells Fargo & Company started coverage on shares of Stellantis in a research report on Monday, December 11th. They set an “underweight” rating for the company. Finally, HSBC lowered shares of Stellantis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.85.

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Stellantis Price Performance

The firm’s 50-day moving average is $22.60 and its 200-day moving average is $20.40. The company has a market capitalization of $76.50 billion, a PE ratio of 4.15, a price-to-earnings-growth ratio of 0.33 and a beta of 1.55. The company has a quick ratio of 1.03, a current ratio of 1.29 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Stellantis by 553.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 81,067 shares of the company’s stock worth $1,319,000 after purchasing an additional 68,660 shares during the last quarter. US Bancorp DE lifted its stake in Stellantis by 3.2% in the first quarter. US Bancorp DE now owns 25,689 shares of the company’s stock worth $418,000 after purchasing an additional 802 shares during the last quarter. HighTower Advisors LLC lifted its stake in Stellantis by 13.6% in the first quarter. HighTower Advisors LLC now owns 25,936 shares of the company’s stock worth $422,000 after purchasing an additional 3,108 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Stellantis by 14.4% in the first quarter. PNC Financial Services Group Inc. now owns 34,029 shares of the company’s stock worth $554,000 after purchasing an additional 4,276 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Stellantis by 34.8% in the first quarter. BlackRock Inc. now owns 1,959,142 shares of the company’s stock worth $31,876,000 after purchasing an additional 505,920 shares during the last quarter. 28.17% of the stock is currently owned by hedge funds and other institutional investors.

About Stellantis

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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 passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

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