Nomura reiterated its neutral rating on European car company Stellantis (STLA.US) stock in a report released on Wednesday.
The Zhitong Finance App learned that, according to MarketBeat Ratings, Nomura reiterated its neutral rating on European car company Stellantis (STLA.US) stock in a report released on Wednesday.
In addition to Nomura, several other securities research analysts have recently released reports about the company. Earlier, Wells Fargo initiated research on Stellantis in a research report released on December 11, giving the company a “reduced holdings” rating.
Sanfordc.Bernstein downgraded Stellantis's rating from “outperforming the market” to “being on par with the market” in a research report on Wednesday, February 28. HSBC downgraded Stellantis's rating from “buy” to “neutral” in the January 24 research report. Redburn Atlantic gave Stellantis a “buy” rating in a research report released on January 24.
Furthermore, Wolfe Research (Wolfe Research) began rating Stellantis as “outperforming the market” in a February 1 report. One research analyst gave the company a “sell” rating, four gave it a “neutral” rating, and five gave it a “buy” rating. According to MarketBeat.com, the company's stock has an average rating of “neutral,” with a consistent target price of $25.85.
Stellantis opened at $27.76 on Wednesday. The stock's 50-day moving average was $24.10 and the 200-day moving average was $21.60. The company's 52-week low was $15.07 and the 52-week high was $28.22. It has a balance ratio of 0.24, a current ratio of 1.24, and a quick ratio of 0.95.
Stellantis' internal activities
Notably, according to other sources, the majority shareholder N.V. Stellantis bought 800,000 shares of the company in a transaction on March 11 (Monday). The average purchase cost was US$4.83 per share, with a total value of US$38.64 million. After the transaction was completed, the insider now directly holds 36,251,720 shares of the company worth $175,095,807.60. The deal has been disclosed in legal documents submitted to the US Securities and Exchange Commission (SEC).
What hedge funds think of Stellantis
Some hedge funds and other institutional investors have also been actively trading the company's shares recently. Currently, institutional investors and hedge funds hold 28.17% of the company's shares.
Cary Street Partners Investment Advisory bought new Stellantis shares worth $26,000 in the third quarter.
Financial Management Professionals Inc. increased its Stellantis shares by 307.4% in the third quarter. The agency increased its holdings by 1,288 shares in the most recent quarter and currently holds 1,707 shares of the company worth $33,000.
Following an increase of 1,736 shares in the third quarter, Cape Investment Advisory once again increased its Stellantis shares by 424.4% in the fourth quarter. Currently, it holds 2,145 shares of the company, worth 50,000 US dollars.
Additionally, BruceG. Allen Investments LLC bought about $40,000 worth of new Stellantis shares in the fourth quarter.
Solstein Capital bought $50,000 worth of new Stellantis shares in the fourth quarter.
About Stellantis
Stellantis is engaged in the design, engineering, manufacture, distribution and sale of automobiles and light commercial vehicles, engines, drivetrains, metallurgical products, mobile services and production systems around the world. The company provides luxury and premium cars, sports utility vehicles, American and European brand cars, parts and services, as well as retail and dealer financing, leasing and leasing services.