Stellantis (NYSE:STLA) Short Interest Down 22.6% in October

Stellantis (NYSE:STLA) was the target of a large 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. Currently, 1.2% of the company’s shares are sold short. Based on an average trading volume of 8,980,000 shares, the short-interest ratio is currently 2.7 days.

Insider Activity at Stellantis

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of Stellantis stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Stellantis

Large investors have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new position in Stellantis in the 2nd quarter valued at about $25,000. Waldron Private Wealth LLC bought a new stake in shares of Stellantis during the third quarter worth approximately $33,000. Central Pacific Bank Trust Division acquired a new position in shares of Stellantis in the third quarter valued at approximately $35,000. ORG Partners LLC bought a new position in shares of Stellantis during the second quarter worth approximately $38,000. Finally, Cromwell Holdings LLC lifted its holdings in Stellantis by 52.9% during the 3rd quarter. Cromwell Holdings LLC now owns 2,993 shares of the company’s stock worth $42,000 after purchasing an additional 1,036 shares during the last quarter. 59.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Stellantis Price Performance

STLA remained flat at $13.64 during trading hours on Friday. The company had a trading volume of 5,207,642 shares, compared to its average volume of 9,308,649. The company’s 50 day simple moving average is $14.84 and its 200-day simple moving average is $18.74. Stellantis has a twelve month low of $12.74 and a twelve 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.

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.