Mizuho Forecasts Strong Price Appreciation for Rivian Automotive (NASDAQ:RIVN) Stock

Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its price target boosted by investment analysts at Mizuho from $11.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the electric vehicle automaker's stock. Mizuho's price objective suggests a potential downside of 17.21% from the company's current price.

RIVN has been the subject of several other research reports. Robert W. Baird dropped their target price on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Barclays boosted their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. Stifel Nicolaus increased their price target on shares of Rivian Automotive from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Monday. Bank of America cut shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $13.00 to $10.00 in a report on Monday, February 24th. Finally, TD Cowen started coverage on shares of Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 target price on the stock. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.24.

Rivian Automotive Trading Up 2.6%

Shares of RIVN stock traded up $0.40 on Friday, reaching $15.70. 18,944,313 shares of the stock were exchanged, compared to its average volume of 35,983,859. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive has a one year low of $9.50 and a one year high of $18.86. The stock has a market cap of $17.75 billion, a PE ratio of -3.33 and a beta of 1.86. The stock has a 50 day moving average price of $12.29 and a 200 day moving average price of $12.46.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released 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. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Equities research analysts forecast that Rivian Automotive will post -3.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the sale, the chief executive officer now owns 853,011 shares in the company, valued at approximately $10,082,590.02. This represents a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,364 shares of company stock worth $2,303,960 in the last quarter. Corporate insiders own 2.16% of the company's stock.

Institutional Investors Weigh In On Rivian Automotive

Institutional investors have recently made changes to their positions in the company. Tandem Financial LLC bought a new stake in Rivian Automotive in the 4th quarter valued at $25,000. PFS Partners LLC grew its stake in shares of Rivian Automotive by 1,882.0% in the first 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 in the last quarter. Banque Transatlantique SA increased its position in Rivian Automotive by 13,194.1% during the first quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock worth $26,000 after acquiring an additional 2,243 shares during the period. Bank of Jackson Hole Trust bought a new position in Rivian Automotive during the fourth quarter worth about $27,000. Finally, Orion Capital Management LLC acquired a new stake in Rivian Automotive in the 4th quarter worth about $34,000. Institutional investors own 66.25% of the company's stock.

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.

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