Rivian Automotive, Inc. (NASDAQ:RIVN) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts hold a mixed view of Rivian: Twenty-seven firms assign the stock a consensus “Hold” rating, with 12 buys, eight holds and seven sells. The average 12-month price target is $19.05, compared with a recent share price of $16.33.
• Rivian exceeded quarterly expectations, reporting an adjusted loss of $0.47 per share versus the $0.66 consensus estimate and revenue of $1.66 billion, up 27.2% year over year. Despite the improvement, the company remains unprofitable, with a negative net margin of 54.96%.
• Insiders have been net sellers: Company insiders sold 49,190 shares worth approximately $847,324 over the past three months, while institutional investors own 66.25% of Rivian’s stock.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has been given a consensus rating of "Hold" by the twenty-seven ratings firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.0455.

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Rivian Automotive from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. DA Davidson increased their target price on Rivian Automotive from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Cantor Fitzgerald reissued a "neutral" rating and issued a $19.00 price target on shares of Rivian Automotive in a research note on Tuesday, July 28th. Weiss Ratings upgraded Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Finally, TD Cowen upped their price objective on Rivian Automotive from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, July 31st.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $16.33 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.10. Rivian Automotive has a 52 week low of $12.39 and a 52 week high of $22.69. The company's 50 day moving average price is $16.50 and its two-hundred day moving average price is $15.87. The company has a market capitalization of $23.64 billion, a P/E ratio of -6.33 and a beta of 1.61.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.19. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the company earned ($0.97) earnings per share. The business's quarterly revenue was up 27.2% compared to the same quarter last year. On average, analysts expect that Rivian Automotive will post -2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,023 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the sale, the chief financial officer owned 819,178 shares in the company, valued at approximately $13,106,848. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the sale, the director owned 110,000 shares in the company, valued at $2,200,000. The trade was a 15.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 49,190 shares of company stock worth $847,324. 1.48% of the stock is owned by insiders.

Institutional Trading of Rivian Automotive

Institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. grew its position in Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 1,000 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in Rivian Automotive during the 4th quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Rivian Automotive during the 3rd quarter worth about $31,000. Zions Bancorporation National Association UT acquired a new position in shares of Rivian Automotive during the 4th quarter worth about $33,000. Finally, Oslo Pensjonsforsikring AS bought a new position in shares of Rivian Automotive in the 1st quarter valued at about $39,000. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Company Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

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