Mizuho Issues Positive Forecast for Rivian Automotive (NASDAQ:RIVN) Stock Price

Rivian Automotive (NASDAQ:RIVN - Get Free Report) had its target price hoisted by stock analysts at Mizuho from $10.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the electric vehicle automaker's stock. Mizuho's price objective would indicate a potential downside of 13.35% from the stock's current price.

Other equities analysts have also issued reports about the stock. Piper Sandler lowered shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $19.00 to $13.00 in a research report on Thursday, March 20th. Truist Financial lifted their target price on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Cowen assumed coverage on Rivian Automotive in a report on Thursday, March 6th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. cut their target price on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Finally, The Goldman Sachs Group lowered their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $13.99.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN traded down $0.81 during midday trading on Wednesday, reaching $12.70. 41,943,533 shares of the company traded hands, compared to its average volume of 36,431,943. The stock's 50-day simple moving average is $11.86 and its 200-day simple moving average is $12.28. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive has a 12 month low of $9.25 and a 12 month high of $18.86. The firm has a market cap of $14.35 billion, a PE ratio of -2.69 and a beta of 1.86.

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

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive 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 sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $844,290.78. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at $10,082,590.02. The trade was a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock valued at $2,154,905 in the last 90 days. 2.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rivian Automotive

Several institutional investors and hedge funds have recently added to or reduced their stakes in RIVN. Tandem Financial LLC bought a new stake in Rivian Automotive during the fourth quarter worth about $25,000. PFS Partners LLC raised its stake 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 worth $25,000 after purchasing an additional 1,882 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the third quarter worth $28,000. Finally, Orion Capital Management LLC bought a new stake in Rivian Automotive during the fourth quarter worth $34,000. 66.25% of the stock is owned by institutional investors.

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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