5 Undervalued European Stocks For The Rest of 2022

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

Number of Hedge Fund Holders: 25

P/E Ratio as of November 7: 2.83

Stellantis N.V. (NYSE:STLA) is a Netherlands-based automaker focused on the design, engineering, manufacturing, and distribution of automobiles, engines, transmission systems, metallurgical products, and production systems worldwide. On November 3, Stellantis N.V. (NYSE:STLA) reported a Q3 revenue of $42.1 billion, up 29.1% year-over-year and global BEV sales jumped 41% as compared to the same period last year. It is one of the best cheap stocks to invest in. 

On October 20, Nomura analyst Anindya Das upgraded Stellantis N.V. (NYSE:STLA) to Buy from Neutral with a price target of EUR 19.80, up from EUR 15.70.

Among the hedge funds tracked by Insider Monkey, 25 funds were long Stellantis N.V. (NYSE:STLA) at the end of June 2022, compared to 29 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is a significant position holder in the company, with 4.7 million shares worth $58 million.