76,680 Shares in Rivian Automotive, Inc. $RIVN Acquired by Aristides Capital LLC

Key Points

• Aristides Capital LLC disclosed a new first-quarter position in Rivian, buying 76,680 shares valued at about $1.15 million.
• Institutional ownership in Rivian remains high, with several large funds recently increasing stakes and hedge funds/investors now holding about 66.25% of the stock.
• Rivian shares were down 4.2% as the article noted insider selling, including CEO Robert J. Scaringe and Director Karen Boone, while analysts currently rate the stock a consensus “Hold” with an average price target of $18.86.

Aristides Capital LLC acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 76,680 shares of the electric vehicle automaker's stock, valued at approximately $1,154,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIVN. Capital International Investors lifted its position in Rivian Automotive by 13.2% during the fourth quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker's stock worth $409,374,000 after purchasing an additional 2,418,717 shares during the period. Renaissance Technologies LLC lifted its stake in Rivian Automotive by 32.4% during the fourth quarter. Renaissance Technologies LLC now owns 16,397,496 shares of the electric vehicle automaker's stock worth $323,195,000 after purchasing an additional 4,012,386 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rivian Automotive by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 14,782,865 shares of the electric vehicle automaker's stock valued at $290,568,000 after purchasing an additional 59,503 shares in the last quarter. Norges Bank acquired a new stake in Rivian Automotive in the fourth quarter valued at about $220,323,000. Finally, Soma Equity Partners LP grew its position in Rivian Automotive by 9.9% in the third quarter. Soma Equity Partners LP now owns 9,204,745 shares of the electric vehicle automaker's stock valued at $135,126,000 after acquiring an additional 829,782 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the transaction, the chief executive officer directly owned 922,286 shares of the company's stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, the director directly owned 110,000 shares of the company's stock, valued at $2,200,000. This represents a 15.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,385 shares of company stock valued at $1,125,094 in the last three months. Insiders own 1.48% of the company's stock.

Rivian Automotive Stock Down 4.2%

NASDAQ:RIVN opened at $16.46 on Friday. The firm's 50 day simple moving average is $16.28 and its 200 day simple moving average is $16.01. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69. The company has a market cap of $22.40 billion, a PE ratio of -5.64 and a beta of 1.60.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company's revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.48) EPS. On average, research analysts anticipate that Rivian Automotive, Inc. will post -3.06 earnings per share for the current year.

Rivian Automotive News Summary

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

• Positive Sentiment: Rivian remains in focus ahead of its July 30 earnings release, with recent coverage highlighting expectations for higher revenue and earnings versus the prior period. The stock has also shown some recent recovery over the past month, suggesting traders still see a turnaround case. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Longer-term bullish commentary is pointing to Rivian’s improving gross profitability trend and arguing the company has several factors that could support a durable investment case. 3 Big Reasons to Believe in Rivian Stock Long-Term
• Neutral Sentiment: Despite the recent attention, one analysis says Rivian does not currently have the key setup that typically leads to an earnings beat, which keeps expectations guarded heading into the report. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release
• Negative Sentiment: Rivian is being pulled lower along with other EV stocks after Tesla reported a profit miss, which has raised fresh questions about demand, margins, and profitability across the sector. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
• Negative Sentiment: Broader commentary on the U.S. EV industry has been pessimistic, emphasizing shrinking market enthusiasm and the financial strain on young EV makers like Rivian, which can weigh on sentiment ahead of earnings. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $23.00 price target on shares of Rivian Automotive in a research note on Wednesday, June 10th. Weiss Ratings raised shares of Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 6th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Rivian Automotive in a report on Monday, June 15th. Tigress Financial reiterated a "buy" rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, April 10th. Finally, DA Davidson raised their price objective on Rivian Automotive from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.86.

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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