Rivian Automotive Target of Unusually Large Options Trading (NASDAQ:RIVN)

Key Points

• On August 18th, Rivian Automotive investors significantly increased their activity by acquiring 190,259 call options, marking a 42% rise from the usual daily volume.
• Rivian's CFO, Claire Mcdonough, sold 7,247 shares of the company's stock, reducing her ownership by 0.91%, while institutional investors now hold 66.25% of the company's stocks.
• The company's latest earnings report revealed a loss of ($0.97) EPS for the quarter, missing estimates but showing a 12.5% increase in revenue compared to the previous year.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) saw unusually large options trading activity on Wednesday. Traders acquired 190,259 call options on the company. Thisrepresentsanincreaseof42% compared to the average daily volume of 133,631 call options.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $12.28, for a total transaction of $88,993.16. Following the completion of the transaction, the chief financial officer directly owned 789,445 shares in the company, valued at approximately $9,694,384.60. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.16% of the company's stock.

Institutional Trading of Rivian Automotive

Hedge funds have recently made changes to their positions in the business. PFS Partners LLC lifted its position in shares of Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock worth $25,000 after purchasing an additional 1,882 shares in the last quarter. Assetmark Inc. raised its holdings in Rivian Automotive by 315.6% in the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,357 shares in the last quarter. Banque Transatlantique SA raised its holdings in Rivian Automotive by 13,194.1% in the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 2,243 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings 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 acquiring an additional 1,000 shares in the last quarter. Finally, Fairman Group LLC acquired a new stake in Rivian Automotive in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Analyst Ratings Changes

RIVN has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of Rivian Automotive from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a $16.00 target price on shares of Rivian Automotive in a report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 target price on shares of Rivian Automotive in a report on Monday, August 25th. Stifel Nicolaus dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Wedbush dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.69.

Rivian Automotive Trading Up 3.7%

RIVN stock traded up $0.51 during mid-day trading on Friday, hitting $14.21. 87,098,513 shares of the company were exchanged, compared to its average volume of 44,100,940. The company has a quick ratio of 2.72, a current ratio of 3.44 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $17.24 billion, a P/E ratio of -4.40 and a beta of 1.81. The business has a fifty day simple moving average of $13.00 and a 200-day simple moving average of $12.96. Rivian Automotive has a 12-month low of $9.50 and a 12-month high of $17.15.

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