5 Auto Companies Facing Worst Declines Amid Global Chip Shortage

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In this article, we discuss the 5 auto companies facing the worst declines amid global chip shortage. If you want to read our detailed analysis of these stocks, go directly to 10 Auto Companies Facing Worst Declines Amid Global Chip Shortage.

5. Stellantis N.V. (NYSE:STLA)

Number of Hedge Fund Holders: 28   

Stellantis N.V. (NYSE:STLA) is ranked fifth on our list of 10 auto companies facing the worst declines amid global chip shortage. The company makes and sells different types of automobiles and is headquartered in the Netherlands. The evidence of the firm being affected by the chip shortage is evident from the fact that it has modified the default specifications of the Ram 1500 pickup it makes. The truck, which came with a digital rear-view mirror that used an electronic chip, is now an optional upgrade.

On September 4, investment advisory DA Davidson kept a Buy rating on Stellantis N.V. (NYSE:STLA) stock with a price target of $50. Peter Heckmann, an analyst at the advisory, issued the ratings update. 

At the end of the second quarter of 2021, 28 hedge funds in the database of Insider Monkey held stakes worth $844 million in Stellantis N.V. (NYSE:STLA), up from 21 in the previous quarter worth $751 million.

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