Rivian Automotive (NASDAQ:RIVN) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Rivian Automotive from “sell” to “hold,” while the broader analyst consensus remains “Hold” with a $19.00 price target.
• Rivian shares opened at $14.99, below their 50-day and 200-day moving averages. The company beat quarterly revenue and EPS expectations, but remains unprofitable, with analysts forecasting a full-year loss of $2.98 per share.
• Insiders sold 56,167 shares worth approximately $963,306 over the past 90 days, while institutional investors own 66.25% of Rivian’s stock.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also commented on RIVN. Jefferies Financial Group lifted their price target on Rivian Automotive from $16.00 to $17.00 and gave the company a "hold" rating in a research note on Tuesday, July 7th. Needham & Company LLC reaffirmed a "buy" rating on shares of Rivian Automotive in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Rivian Automotive from a "buy" rating to an "underperform" rating in a research report on Tuesday, August 4th. Morgan Stanley boosted their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 6th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $19.00.

Rivian Automotive Stock Down 2.7%

RIVN stock opened at $14.99 on Friday. The business has a 50-day simple moving average of $16.16 and a 200 day simple moving average of $15.90. Rivian Automotive has a 52 week low of $12.39 and a 52 week high of $22.69. The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87. The company has a market cap of $21.70 billion, a PE ratio of -5.81 and a beta of 1.62.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.66) by $0.03. The business had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.52 billion. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The firm's quarterly revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.97) earnings per share. Sell-side analysts anticipate that Rivian Automotive will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire McDonough sold 8,023 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer directly owned 819,178 shares of the company's stock, valued at $13,106,848. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael John Callahan sold 15,000 shares of the business's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $16.29, for a total value of $244,350.00. Following the completion of the sale, the insider owned 1,016,776 shares in the company, valued at approximately $16,563,281.04. The trade was a 1.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 56,167 shares of company stock valued at $963,306. Corporate insiders own 1.48% of the company's stock.

Institutional Trading of Rivian Automotive

A number of large investors have recently modified their holdings of RIVN. Independent Financial Group LLC bought a new position in Rivian Automotive during the 1st quarter worth approximately $985,000. Baird Financial Group Inc. lifted its position in Rivian Automotive by 163.9% during the second quarter. Baird Financial Group Inc. now owns 289,693 shares of the electric vehicle automaker's stock valued at $5,026,000 after buying an additional 179,913 shares during the period. Swedbank AB grew its holdings in Rivian Automotive by 8.6% in the fourth quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker's stock worth $18,553,000 after purchasing an additional 74,322 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Rivian Automotive by 34.9% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker's stock valued at $5,249,000 after buying an additional 90,200 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Rivian Automotive in the 4th quarter worth about $4,895,000. Institutional investors own 66.25% of the company's stock.

Key Stories Impacting Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian continues to attract bullish attention because of its cash position, improving gross profitability and lack of recent shareholder dilution. Investors see potential upside if the company executes successfully on its R2 vehicle program. The 3 Charts That Show Rivian Could Soar
• Positive Sentiment: Rivian rose alongside Lucid during renewed enthusiasm for electric-vehicle and autonomous-driving opportunities after Lucid announced a major European robotaxi agreement. Although the deal was for Lucid, it supported broader sector sentiment and highlighted potential future demand for EV technology. Lucid and Rivian EV Sector News
• Neutral Sentiment: Rivian will participate in Evercore’s ADAS, AV & AI Forum on September 29. The presentation could provide updates on autonomy, artificial intelligence and advanced driver-assistance technology, but no new financial or operational targets were announced. Rivian to Participate in Evercore ADAS, AV and AI Forum
• Negative Sentiment: Michael John Callahan sold 15,000 Rivian shares for approximately $244,350. The sale reduced his holdings by 1.45% and was conducted under a pre-arranged Rule 10b5-1 plan, which makes it less indicative of a discretionary bearish view but still creates short-term selling pressure. Michael John Callahan Sells Rivian Shares
• Negative Sentiment: RIVN decreased even as the broader market gained, indicating that the insider transaction and ongoing concerns about Rivian’s losses may be outweighing its growth prospects in the near term. The company remains unprofitable, with analysts expecting a full-year loss.

Rivian Automotive Company Profile

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer vehicle lineup includes the R1T electric pickup truck and R1S electric SUV, which are designed for on-road and off-road use. The company also develops charging solutions, vehicle software and connected services intended to support the ownership and operation of its electric vehicles.

Rivian produces electric commercial vans for delivery and fleet applications, including vehicles developed through its relationship with Amazon.

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