Rivian Automotive, Inc. (NASDAQ:RIVN) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts collectively rate Rivian “Hold.” Of 28 analysts, 12 recommend buying, nine recommend holding and seven recommend selling; the average 12-month price target is $19.00.
• Rivian’s latest quarterly results exceeded expectations, with revenue of $1.66 billion and an adjusted loss of $0.63 per share, but the company remains unprofitable and analysts expect a full-year loss of $2.98 per share.
• Insiders have recently sold shares totaling about $963,000 over 90 days, while institutional investors own 66.25% of the company. Several institutional holders increased their positions during the second quarter.

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) have received an average rating of "Hold" from the twenty-eight research firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several equities research analysts have commented on the company. Citigroup initiated coverage on Rivian Automotive in a research note on Monday, September 14th. They set a "hold" rating and a $18.00 price target for the company. Wells Fargo & Company lifted their price objective on Rivian Automotive from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Wall Street Zen raised shares of Rivian Automotive from a "sell" rating to a "hold" rating in a research report on Saturday. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $19.00 price target on shares of Rivian Automotive in a research report on Tuesday, July 28th. Finally, Morgan Stanley boosted their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $14.99 on Monday. The stock has a market capitalization of $21.70 billion, a PE ratio of -5.81 and a beta of 1.62. 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 firm has a fifty day moving average of $16.16 and a 200-day moving average of $15.91. Rivian Automotive has a 52-week low of $12.39 and a 52-week high of $22.69.

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

Insider Activity at Rivian Automotive

In related news, insider Michael John Callahan sold 15,000 shares of Rivian Automotive stock in a transaction on Friday, September 11th. The shares were sold at an average price of $16.29, for a total transaction of $244,350.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire McDonough sold 13,144 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $14.50, for a total transaction of $190,588.00. Following the sale, the chief financial officer directly owned 827,201 shares of the company's stock, valued at approximately $11,994,414.50. This trade represents a 1.56% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 56,167 shares of company stock worth $963,306. 1.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently modified their holdings of the stock. Reynders McVeigh Capital Management LLC grew its stake in shares of Rivian Automotive by 6.8% in the second quarter. Reynders McVeigh Capital Management LLC now owns 15,767 shares of the electric vehicle automaker's stock valued at $274,000 after buying an additional 1,000 shares in the last quarter. Tidal Investments LLC lifted its position in Rivian Automotive by 2.3% during the 2nd quarter. Tidal Investments LLC now owns 292,956 shares of the electric vehicle automaker's stock worth $5,083,000 after acquiring an additional 6,566 shares in the last quarter. MCF Advisors LLC lifted its position in Rivian Automotive by 3,500.0% during the 2nd quarter. MCF Advisors LLC now owns 1,800 shares of the electric vehicle automaker's stock worth $31,000 after acquiring an additional 1,750 shares in the last quarter. National Pension Service purchased a new position in Rivian Automotive in the 2nd quarter worth approximately $790,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in Rivian Automotive by 21.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 33,437 shares of the electric vehicle automaker's stock worth $580,000 after acquiring an additional 5,896 shares during the period. Hedge funds and other institutional investors own 66.25% of the company's stock.

Rivian Automotive News Summary

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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