Stellantis (NYSE:STLA) Short Interest Update

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. Based on an average trading volume of 8,980,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STLA shares. Nomura Securities upgraded Stellantis from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 31st. Jefferies Financial Group restated a “hold” rating and set a $16.44 price objective (down previously from $27.30) on shares of Stellantis in a research report on Wednesday, August 7th. Barclays lowered Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Nomura upgraded Stellantis from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of Stellantis in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Stellantis presently has an average rating of “Hold” and a consensus price target of $27.34.

Insider Buying and Selling at Stellantis

In other Stellantis news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. swisspartners Advisors Ltd boosted its position in shares of Stellantis by 82.5% during the third quarter. swisspartners Advisors Ltd now owns 622,100 shares of the company’s stock valued at $8,741,000 after buying an additional 281,240 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Stellantis by 176.6% during the third quarter. Farther Finance Advisors LLC now owns 40,839 shares of the company’s stock valued at $574,000 after buying an additional 26,072 shares during the period. AustralianSuper Pty Ltd boosted its position in shares of Stellantis by 26.3% during the third quarter. AustralianSuper Pty Ltd now owns 9,089,415 shares of the company’s stock valued at $125,597,000 after buying an additional 1,894,146 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Stellantis by 5.6% during the third quarter. First Trust Direct Indexing L.P. now owns 69,774 shares of the company’s stock valued at $980,000 after buying an additional 3,711 shares during the period. Finally, GW Henssler & Associates Ltd. purchased a new position in shares of Stellantis during the third quarter valued at approximately $162,000. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Stellantis Stock Down 2.9 %

STLA traded down $0.40 on Tuesday, hitting $13.35. The company had a trading volume of 7,050,229 shares, compared to its average volume of 6,858,549. Stellantis has a 12-month low of $12.74 and a 12-month high of $29.51. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $14.79 and its 200 day simple moving average is $18.65.

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.