Rivian Automotive (NASDAQ:RIVN) Receives "Hold" Rating from Jefferies Financial Group

Rivian Automotive (NASDAQ:RIVN - Get Free Report)'s stock had its "hold" rating reiterated by Jefferies Financial Group in a report issued on Wednesday, Marketbeat reports. They presently have a $16.00 price objective on the electric vehicle automaker's stock. Jefferies Financial Group's price objective suggests a potential upside of 1.20% from the company's previous close.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their price target on Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $15.00 target price on shares of Rivian Automotive in a research note on Wednesday, May 7th. Sanford C. Bernstein began coverage on Rivian Automotive in a report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 target price on the stock. TD Cowen began coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 price target for the company. Finally, UBS Group increased their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $14.24.

Rivian Automotive Price Performance

RIVN traded up $0.51 during midday trading on Wednesday, reaching $15.81. 31,875,749 shares of the company's stock were exchanged, compared to its average volume of 36,088,561. The business has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $12.51. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of -3.35 and a beta of 1.86. Rivian Automotive has a one year low of $9.50 and a one year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, research analysts predict that Rivian Automotive will post -3.2 EPS for the current year.

Insider Activity

In other news, CEO Robert J. Scaringe sold 35,713 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $11.46, for a total transaction of $409,270.98. Following the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,775,506.06. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 195,364 shares of company stock worth $2,303,960. Insiders own 2.16% of the company's stock.

Institutional Investors Weigh In On Rivian Automotive

Several hedge funds have recently added to or reduced their stakes in the business. Tandem Financial LLC bought a new position in shares of Rivian Automotive during the fourth quarter valued at $25,000. PFS Partners LLC raised its position in 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 worth $25,000 after purchasing an additional 1,882 shares during the last quarter. Banque Transatlantique SA lifted its holdings in Rivian Automotive by 13,194.1% during 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 period. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive in the 4th quarter valued at about $27,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at about $34,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

About Rivian Automotive

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.