Stock Traders Buy High Volume Put Options on Stellantis (NASDAQ:STLA)

Stellantis Inc (NASDAQ:STLA – Get Rating) was the beneficiary of unusually heavy options trading on Wednesday. Investors bought 5,258 put options on the company. This represents an increase of approximately 109% from the typical volume of 2,515 put options.

Institutional entries and exits

A number of institutional investors and hedge funds have recently changed their positions in STLA. Atlas Capital Advisors LLC increased its position in Stellantis shares by 2.4% during the third quarter. Atlas Capital Advisors LLC now owns 44,761 shares of the company worth $530,000 after purchasing an additional 1,041 shares during the period. Altrius Capital Management Inc increased its stake in Stellantis by 38.8% during the 3rd quarter. Altrius Capital Management Inc now owns 390,610 shares of the company valued at $4,624,000 after acquiring an additional 109,163 shares last quarter. Fisher Asset Management LLC bought a new position in Stellantis during Q3 worth $982,000. Signaturefd LLC increased its stake in Stellantis by 20.2% during the 3rd quarter. Signaturefd LLC now owns 54,301 shares of the company valued at $643,000 after acquiring 9,141 additional shares last quarter. Finally, Capital Financial Services LLC increased its stake in Stellantis shares by 5.9% during the 3rd quarter. Capital Financial Services LLC now owns 18,009 shares of the company worth $213,000 after purchasing an additional 1,009 shares during the period. Institutional investors hold 31.79% of the company’s shares.

Changes to analyst ratings

A number of brokerages have commented on STLA. Nomura upgraded Stellantis from a “neutral” rating to a “buy” rating in a Thursday, October 20 report. Berenberg Bank lowered its price target on Stellantis from €21.00 ($21.00) to €19.00 ($19.00) in a Friday, October 14 report. Royal Bank of Canada raised its price target on Stellantis from €19.00 ($19.00) to €21.00 ($21.00) and gave the stock an “sector performance” rating in a Tuesday, August 2 research report. Finally, Nomura Instinet upgraded Stellantis shares from a “neutral” rating to a “buy” rating in a Thursday, October 20 research note. Five analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, Stellantis currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.14.

Stellantis is trading down 0.7%

NASDAQ:STLA shares fell $0.10 on Wednesday, hitting $13.70. The company had a trading volume of 86,307 shares, compared to its average volume of 5,770,462. Stellantis has a 1-year low of $11.37 and a 1-year high of $21.92. The stock has a 50-day moving average price of $12.93 and a 200-day moving average price of $13.46. The company has a debt ratio of 0.31, a current ratio of 1.17 and a quick ratio of 0.94.

Stellantis Company Profile

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Stellantis NV is engaged in the design, engineering, manufacture, distribution and sale of automobiles and light commercial vehicles, engines, transmission systems, metal products and production systems in the whole world. It provides luxury, high-end and mainstream passenger vehicles; pickup trucks, sport utility vehicles and utility vehicles; and parts and service, as well as financing, leasing and rental services for retailers and dealerships.

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