Caxton Associates LLP Takes Position in Rivian Automotive, Inc. $RIVN

Caxton Associates LLP purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 84,572 shares of the electric vehicle automaker's stock, valued at approximately $1,053,000.

Other large investors have also recently modified their holdings of the company. PFS Partners LLC boosted its position in shares of Rivian Automotive by 1,882.0% during the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,882 shares during the last quarter. Banque Transatlantique SA lifted its position in Rivian Automotive by 13,194.1% in the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock worth $26,000 after buying an additional 2,243 shares during the last quarter. Orion Capital Management LLC bought a new stake in Rivian Automotive in the 4th quarter worth approximately $34,000. WPG Advisers LLC bought a new stake in Rivian Automotive in the 1st quarter worth approximately $34,000. Finally, Olde Wealth Management LLC bought a new stake in Rivian Automotive in the 1st quarter worth approximately $37,000. Institutional investors own 66.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RIVN. Canaccord Genuity Group dropped their target price on Rivian Automotive from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Stifel Nicolaus dropped their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Rivian Automotive in a research report on Monday, August 25th. JPMorgan Chase & Co. dropped their target price on Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered Rivian Automotive from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.67.

Insiders Place Their Bets

In related news, CFO Claire Mcdonough sold 7,247 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the sale, the chief financial officer directly owned 789,445 shares of the company's stock, valued at $9,694,384.60. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.16% of the stock is currently owned by insiders.

Rivian Automotive Stock Down 0.2%

Shares of NASDAQ RIVN opened at $13.91 on Thursday. The company has a quick ratio of 2.72, a current ratio of 3.44 and a debt-to-equity ratio of 0.73. Rivian Automotive, Inc. has a 52 week low of $9.50 and a 52 week high of $17.15. The firm's fifty day moving average is $13.03 and its 200 day moving average is $12.98. The company has a market cap of $16.88 billion, a price-to-earnings ratio of -4.31 and a beta of 1.81.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.32). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. Rivian Automotive's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.46) EPS. On average, equities research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.

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